Hims & Hers Health Plunges 25.29% After Novo Nordisk Ends Partnership

On June 23, 2025, Hims & Hers Health experienced a significant drop of 25.29% in pre-market trading.

Novo Nordisk, a prominent pharmaceutical company, announced on Monday that it would terminate its collaboration with Hims & Hers Health. The decision was driven by concerns over the telehealth company's sales and promotion of cheaper alternatives to Novo Nordisk's weight loss drugs. Novo Nordisk cited issues such as "illegal mass compounding and deceptive marketing" as reasons for ending the partnership.

This abrupt termination has raised questions about the future of Hims & Hers Health's business model, particularly its reliance on partnerships with major pharmaceutical companies. The company had been leveraging these collaborations to expand its offerings in the weight loss market, but the recent developments suggest potential challenges ahead.

Investors and analysts are closely monitoring the situation, as the loss of a key partner like Novo Nordisk could impact Hims & Hers Health's ability to maintain its market position and growth trajectory. The company will need to address these concerns and potentially seek new partnerships to mitigate the fallout from this setback.