Business
Hims & Hers pulls Wegovy knockoff drug after FDA regulatory threat
Ro CEO Zach Reitano joins ‘Mornings with Maria’ to discuss the launch of the Wegovy oral pill, the future of telehealth and more.
Following threats from the Food and Drug Administration (FDA) that it would take “decisive” action against companies selling “illegal copycat drugs,” telehealth company Hims & Hers announced it would pull the launch of its knockoff Wegovy weight loss drug.
“Since launching the compounded semaglutide pill on our platform, we’ve had constructive conversations with stakeholders across the industry,” Hims & Hers said on Saturday. “As a result, we have decided to stop offering access to this treatment.”
The FDA named checked Hims & Hers in its Friday announcement, saying, “These actions are aimed to safeguard consumers from drugs for which the FDA cannot verify quality, safety, or efficacy. We take seriously any potential violations of the Federal Food, Drug, and Cosmetic Act.”
Hims & Hers’ decision also comes as Novo Nordisk threatened to take legal action over the cheaper version of its weight loss pill, which has not been approved by the FDA or gone through clinical trials.
NEW WEGOVY PILL OFFERS NEEDLE-FREE WEIGHT LOSS BUT MAY NOT WORK FOR EVERYONE
Hims & Hers Health, Inc., is featured outside the New York Stock Exchange, Jan. 21, 2021. (Reuters/Carlo Allegri / Reuters)
Hims & Hers announced Thursday that it would begin selling its compounded version of Novo’s Wegovy at an introductory price of $49 a month, which is around $100 less than the original, and the lowest price for a GLP-1 weight loss drug on the U.S. market.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HIMS | HIMS & HERS HEALTH INC | 23.02 | -0.46 | -1.96% |
Compounded drugs involve pharmacies mixing ingredients for certain specialized drugs at different dosages to make a copycat drug. The process has increased in the U.S. as Americans want lower-priced medications.
Shares of Novo first fell after the Hims announcement on Thursday, but then recovered and Hims’ shares fell after the FDA announcement on Friday.
PFIZER CEO ADDRESSES GROWING COMPETITION IN WEIGHT-LOSS DRUGS
Pharmaceutical company Novo Nordisk headquarters in Bagsvaerd, Copenhagen, Denmark. (Reuters/Tom Little/File Photo)
Hims didn’t say whether it planned to keep selling its compounded GLP-1 injection on its website.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
Novo and Hims previously had a partnership that allowed Hims to sell Wegovy, but Novo pulled out after accusing Hims marketing knockoff Wegovy drugs.
Hims’ CEO Andrew Dudum accused Novo of attempting to control how clinicians at Hims make decisions.
Reuters contributed to this report.
Technology Stocks: Dead Or An Opportunity?
Microsoft Vs. Micron: A Look At The Rotation Into Memory
Form 6K Graphex Group Ltd For: 7 February
Form 6K VODAFONE GROUP PUBLIC LTD CO For: 7 February
Form 6K BANCO BILBAO VIZCAYA ARGENTARIA For: 7 February
American Battery Technology: Another Good Quarter Under The Belt
UBS banked Ghislaine Maxwell for years, moving her money after Epstein’s arrest
AGG: Muted Volatility And Light Positioning, Why That's Bullish
Form 6K RIO TINTO LTD For: 7 February
The Dow Jones Industrial Average hit 50000 for the first time on Friday, the latest milestone in a yearslong run in which the U.S. economy has muscled past its rich peers and snapped up investment the world over.
Since the blue-chip index plunged below 6600 during the depths of the 2007-09 recession, it has effectively moved in one direction on the flickering screens of Wall Street: up and to the right. Bouts of trading turmoil that periodically upended the Dow now seem like speed bumps in America’s rearview mirror.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Treasury statement over road tax ahead of major 2026 changes
IBIT Position Limits Stay Put as Nasdaq Levels Bitcoin ETF Playing Field
Netflix’s Twisted Thriller Returns to Streaming Charts After 3-Month Absence
-
Video5 days agoWhen Money Enters #motivation #mindset #selfimprovement
-
Tech4 days agoWikipedia volunteers spent years cataloging AI tells. Now there’s a plugin to avoid them.
-
Politics6 days agoSky News Presenter Criticises Lord Mandelson As Greedy And Duplicitous
-
Tech1 day agoFirst multi-coronavirus vaccine enters human testing, built on UW Medicine technology
-
Sports1 day agoJD Vance booed as Team USA enters Winter Olympics opening ceremony
-
Sports16 hours ago
Former Viking Enters Hall of Fame
-
Crypto World6 days agoMarket Analysis: GBP/USD Retreats From Highs As EUR/GBP Enters Holding Pattern
-
Sports2 days ago
New and Huge Defender Enter Vikings’ Mock Draft Orbit
-
NewsBeat5 days agoUS-brokered Russia-Ukraine talks are resuming this week
-
NewsBeat2 days agoSavannah Guthrie’s mother’s blood was found on porch of home, police confirm as search enters sixth day: Live
-
Business2 days agoQuiz enters administration for third time
-
Sports6 days agoShannon Birchard enters Canadian curling history with sixth Scotties title
-
NewsBeat6 days agoGAME to close all standalone stores in the UK after it enters administration
-
NewsBeat3 days agoStill time to enter Bolton News’ Best Hairdresser 2026 competition
-
NewsBeat1 day agoDriving instructor urges all learners to do 1 check before entering roundabout
-
Crypto World4 days agoRussia’s Largest Bitcoin Miner BitRiver Enters Bankruptcy Proceedings: Report
-
NewsBeat5 days agoImages of Mamdani with Epstein are AI-generated. Here’s how we know
-
Crypto World3 days agoHere’s Why Bitcoin Analysts Say BTC Market Has Entered “Full Capitulation”
-
Crypto World2 days agoWhy Bitcoin Analysts Say BTC Has Entered Full Capitulation
-
Fashion2 days agoKelly Rowland and Method Man Bring the Fashion for Relationship Goals Press Tour: Courtside in a Fringed TTSWTRS Jacket, Black and White Rowen Rose, Stella McCartney, and More!