Hims & Hers Health Stock Plummets 35% After Novo Nordisk Ends Partnership Amid Controversy, Trading Volume Drops to 23rd Rank

On June 24, 2025, Hims & Hers Health (HIMS) saw a trading volume of $26.25 billion, a 66.2% decrease from the previous day, ranking 23rd in the day's stock market activity. The stock price of Hims & Hers Health rose by 2.30%.

Novo Nordisk has terminated its collaboration with Hims & Hers Health, Inc. after just over a month, citing deceptive marketing and the unlawful mass compounding of semaglutide, the active ingredient in Wegovy. The pharmaceutical company accused the telehealth provider of endangering patients by promoting and selling non-FDA-approved versions of the obesity drug, allegedly made with illicit foreign ingredients from unregulated Chinese manufacturers. Novo Nordisk emphasized its commitment to working only with partners who support safe, FDA-approved treatments for chronic diseases.

Novo Nordisk's decision to end the partnership was driven by concerns over Hims & Hers' alleged illegal mass compounding and deceptive marketing practices. The Danish drugmaker accused the telehealth company of illegally selling cheaper copycat drugs, which led to the abrupt termination of the collaboration. This move by Novo Nordisk has significantly impacted Hims & Hers' stock performance, with shares plunging nearly 35% on the news.