New York, Feb 6, 2026, 05:00 EST — Premarket
- HIMS shares dip ahead of the U.S. open amid signals regulators will tighten oversight of copycat drug marketing
- Novo Nordisk is warning it may take legal steps against Hims & Hers over their launch of a compounded semaglutide pill
- Traders are focusing on volatility and the company’s Feb. 23 earnings call to gauge demand and assess risk
Shares of Hims & Hers Health (HIMS) dipped 3.8% to $23.48 in premarket trading Friday, following a tough day on Thursday.
Shares of Hims plunged after hours, reacting to remarks from FDA Commissioner Marty Makary. He warned the agency plans to move quickly against companies pushing “illegal copycat drugs” that imply similarity to FDA-approved treatments. The selloff reflects investor concerns over a potential crackdown on compounded GLP-1 drugs, a diabetes medication class increasingly popular for weight loss. Reuters
Hims announced on Thursday it’s broadening its weight-loss lineup by allowing providers on its platform to prescribe a compounded semaglutide pill. New customers can get started at $49 for the first month on a five-month plan, with subsequent months priced at $99. CEO Andrew Dudum emphasized the goal of giving customers “the power of choice.” “More choice on the platform is the best thing for customers everywhere,” Dudum said. Business Wire
Novo Nordisk, maker of Wegovy, announced plans to sue Hims, labeling their product an “unapproved, inauthentic, and untested knockoff” of semaglutide, the key ingredient in Wegovy. Novo’s own pill retails at $149 for new users, AP reported, highlighting the steep price difference fueling the market response. AP News
Hims shares jumped 14% at Thursday’s open but quickly gave up those gains, closing down about 4%, Reuters reported. Steve Sosnick, chief strategist at Interactive Brokers, called it “a bit disappointing” that the stock couldn’t hold onto the rally despite positive news, noting that’s usually a red flag. Options pricing suggested a possible 20% swing either way by the end of next week, signaling traders are bracing for more volatility. Reuters
Investor sentiment is split, following familiar patterns: the market likes the demand angle but hits a wall with legal and regulatory issues. Markus Manns, portfolio manager at Union Investment, labeled the situation “illegal,” yet it’s unclear how fast Novo could halt the offering or if the FDA will step in. Morningstar’s Karen Andersen pointed out that if the launch continues, it casts doubt on how well branded-drug protections are enforced. Reuters
A recent Form 4 filing reveals that Chief Financial Officer Oluyemi Okupe exercised stock options and offloaded 5,262 shares on Feb. 3, fetching an average price of $26.4363 per share. This sale was executed under a Rule 10b5-1 trading plan established in 2025.
The core risk is clear: should regulators or courts rule the pill falls under “illegal mass compounding,” Hims might be restricted in marketing or distributing it—right as the company ramps up efforts in weight loss. This uncertainty clouds plans for scaling supply and managing patient results, especially with branded pills and injectables increasingly sold through cash-pay channels. STAT
Traders will be looking for any official action from the FDA or legal moves by Novo in the next session, along with clues if the premarket dip leads to another day of heavy volume. Hims is set to report fourth-quarter 2025 results on Feb. 23 at 5:00 p.m. ET. Investors will be focused on guidance and any updates about the weight-loss product mix.
