Stock Track | Hims & Hers Health Plummets 18.56% Pre-market as Novo Nordisk Terminates Weight Loss Drug Access

Stock Track06-23

Shares of Hims & Hers Health Inc. (HIMS) plunged 18.56% in pre-market trading on Monday, following news that pharmaceutical giant Novo Nordisk has terminated its collaboration with the company. This unexpected development has significantly impacted investor sentiment towards the telehealth and wellness company.

Novo Nordisk announced that Hims & Hers Health will no longer have direct access to Wegovy®, a popular weight loss drug, via the NovoCare® Pharmacy. This termination of collaboration is likely to affect Hims & Hers Health's ability to offer this sought-after medication to its customers, potentially impacting its revenue stream and growth prospects in the weight management sector.

The sharp decline in Hims & Hers Health's stock price reflects investors' concerns about the company's future performance without access to Novo Nordisk's weight loss drug. As the healthcare sector continues to evolve, this development underscores the importance of strategic partnerships and product offerings in the competitive telehealth market.

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Comments

Frosty4ever
06-24
Frosty4ever
Given hims soared 125% on the tie up. The question is has the stock fine down far enough after the cancellation. Time will Will tell.

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(HIMS) plunged 18.56% in pre-market trading on Monday, following news that pharmaceutical giant Novo Nordisk has terminated its collaboration with the company. This unexpected development has significantly impacted investor sentiment towards the telehealth and wellness company.</p>\n\n<p>Novo Nordisk announced that Hims & Hers Health will no longer have direct access to Wegovy®, a popular weight loss drug, via the NovoCare® Pharmacy. This termination of collaboration is likely to affect Hims & Hers Health's ability to offer this sought-after medication to its customers, potentially impacting its revenue stream and growth prospects in the weight management sector.</p>\n\n<p>The sharp decline in Hims & Hers Health's stock price reflects investors' concerns about the company's future performance without access to Novo Nordisk's weight loss drug. As the healthcare sector continues to evolve, this development underscores the importance of strategic partnerships and product offerings in the competitive telehealth market.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HIMS":"Hims & Hers Health Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177566362","content_text":"Shares of Hims & Hers Health Inc. (HIMS) plunged 18.56% in pre-market trading on Monday, following news that pharmaceutical giant Novo Nordisk has terminated its collaboration with the company. This unexpected development has significantly impacted investor sentiment towards the telehealth and wellness company.\nNovo Nordisk announced that Hims & Hers Health will no longer have direct access to Wegovy®, a popular weight loss drug, via the NovoCare® Pharmacy. This termination of collaboration is likely to affect Hims & Hers Health's ability to offer this sought-after medication to its customers, potentially impacting its revenue stream and growth prospects in the weight management sector.\nThe sharp decline in Hims & Hers Health's stock price reflects investors' concerns about the company's future performance without access to Novo Nordisk's weight loss drug. 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