Hims & Hers Health Surges 8.73% on $3.58B Volume Ranking 22nd in Market Activity Amid Legal Dispute with Novo Nordisk

Hims & Hers Health (HIMS) surged 8.73% on July 30, 2025, with a trading volume of $3.58 billion, ranking 22nd in market activity. This follows a significant legal and operational upheaval linked to its partnership with Novo Nordisk. A federal lawsuit alleges the company misrepresented its collaboration with the pharmaceutical giant, including claims about the legality of offering compounded semaglutide. The partnership was terminated in June 2025 after Novo Nordisk accused Hims of selling unauthorized versions of its drug Wegovy, leading to a 34% single-day stock plunge in early June.

The legal action, now pending in California federal court, centers on allegations of deceptive marketing practices and regulatory noncompliance. Multiple law firms have joined the fray, urging investors to seek representation ahead of the August 25 deadline to lead the case. While Hims has highlighted growth metrics such as 111% year-over-year revenue and 85% subscriber retention, the ongoing litigation and reputational damage from the Novo Nordisk fallout continue to weigh on investor sentiment. The company’s plans to expand into Canada and offer generic semaglutide remain under scrutiny amid the legal challenges.

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