Hims & Hers Health Stock Drops 5.54% Despite Novo Nordisk Partnership Boosting 55th Rank in Trading Volume

On April 30, 2025, Hims & Hers Health (HIMS) experienced a significant decline, with its stock price dropping by 5.54%. The trading volume for the day was 12.68 billion, marking a 76.64% decrease from the previous day. This placed Hims & Hers at the 55th position in terms of trading volume for the day.

Hims & Hers Health has recently announced a strategic partnership with Novo Nordisk, the maker of the weight-loss drug Wegovy. This collaboration aims to make obesity care more accessible and affordable for Americans. Starting this week, Hims & Hers members can be prescribed Wegovy at a cost of $599 per month through NovoCare Pharmacy. This move is part of a broader effort to increase access to care and follows Novo Nordisk's earlier announcement to sell Wegovy at a reduced price.

The partnership with Novo Nordisk is a significant development for Hims & Hers, as it aligns the company with a major player in the weight-loss drug market. This collaboration comes after a period of volatility for Hims & Hers, which had previously benefited from selling alternatives to name-brand weight-loss drugs due to shortages. The Food and Drug Administration's announcement that there was no longer a shortage led to a sharp pullback in the company's stock in late February.

Hims & Hers is also developing a roadmap with Novo Nordisk to further enhance access to care. This strategic move is expected to bolster the company's position in the health and wellness sector, potentially attracting more customers seeking affordable and accessible obesity care solutions. The partnership with Novo Nordisk represents a pivotal moment for Hims & Hers, as it navigates the competitive landscape of the weight-loss drug market.