The two struck a deal Monday for Hims to offer official versions of Novo Nordisk’s GLP-1 drugs Ozempic and Wegovy.
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Novo’s Copenhagen-listed shares rose 5.2% on Monday. New York-listed shares in Hims & Hers, meanwhile, shed an Ozempic-like 16% in volume.
The proliferation of cheaper generic drugs and more competition has already begun to bring down prices on weight-loss treatments.
The company also said earlier this week it will drop $6 billion on a new manufacturing facility in Huntsville, Alabama.
Record performance of its GLP-1 drugs sent shares in Eli Lilly soaring almost 4% after its earnings call on Thursday.
The acquisition comes as new CEO Mike Doustdar tries to revive once meteoric growth that has come crashing down to earth this year.
Morgan Stanley analysts have estimated that Lilly’s GLP-1 pill could bring in as much as $40 billion in annual sales by 2033.
Novo said cash-paying Americans can now buy Ozempic for $499 per month through various channels including its official website.
The company plans to seek regulatory approval for the revolutionary weight loss treatment by the end of the year.
Now that semaglutide’s no longer in shortage territory, the FDA said drug-makers have 90 days to wrap up production of their Novo knockoffs.
It can be hard to sate investors’ appetites, but if there’s two companies who should know how to do it, it’s these two.
Novo Nordisk on Wednesday announced an expanded deal with healthtech firm Valo Health to use AI to fuel drug discovery.
By licensing a drug from Hansoh, Merck signaled that it isn’t prepared to fully challenge its rivals’ dominance in the GLP-1 space.
Novo Nordisk reported earnings, posting some chunky year-over-year growth and far outperforming its only real rival at the moment, Eli Lilly.
A new study suggests increasingly popular GLP-1 drugs could help cut opioid and alcohol abuse nearly in half.
The Food and Drug Administration declared an end to the scarcity of Eli Lilly’s highly in-demand weight-loss and diabetes drugs on Thursday.