Shares of Hims & Hers Health fell over 25% on June 23 after Novo Nordisk announced it was terminating its partnership with the company, citing “deceptive marketing” and “illegal mass compounding” of semaglutide-based weight-loss treatments. The collaboration between the two healthcare companies launched in April, and allowed Hims to offer Wegovy through its telehealth platform. According to Novo Nordisk, Hims continued selling compounded versions of semaglutide even after the FDA determined that Novo Nordisk's Wegovy was no longer in shortage. Block & Leviton is investigating the company's disclosures to investors.
Contact our attorneys for a no-cost case evaluation.