Latest news with #HimsandHers
Yahoo
09-07-2025
- Business
- Yahoo
U.S. telehealth upstart plans to sell generic Ozempic in Canada as patent due to lapse
U.S. telehealth upstart Hims & Hers Health, Inc. is planning to enter the Canadian market with an eye to selling generic semaglutide, the anti-diabetic medication used for the treatment of type 2 diabetes that is growing popularity as an anti-obesity medication. 'Canada is a major opportunity to show what affordable, high-quality weight loss care can look like,' Hims & Hers chief executive Andrew Dudum said in a release announcing the company's plan. The opportunity for Hims and Hers comes as Danish pharmaceutical giant Novo Nordisk is set to lose Canadian patent protection on its popular semaglutide-based drugs, Ozempic and Wegovy, after apparently failing to pay a small fee to maintain the patent. According to the Canadian Patent Database, Novo Nordisk was first issued the patent in 2013 but it is now 'expired and beyond the period of reversal.' A report by Science said the pharma company last paid the annual maintenance fee on 2018, which at the time was $250. Meanwhile, it will hold the patent in the United States until at least 2032. At the moment, there is still no generic version of semaglutide on the market that has been approved by Health Canada. In a press release, Hims and Hers said almost two-thirds of adults in Canada are overweight or living with obesity. Branded semaglutide with no surrounding clinical support currently costs more than $200 a month in Canada. It said the price for generic semaglutide is expected to be available at a significant discount to the branded versions, with the prices expected to lower over time. WeightWatchers files for bankruptcy after growth in weight loss drugs How Novo Nordisk CEO Lars Fruergaard Jørgensen rewrote the weight-loss game Hims and Hers stock traded up as much as 4.1 per cent after the company announced its plans to expand into Canada on Wednesday morning, but pared some of those gains by midday. The company had recently closed its acquisition of ZAVA, a digital health platform in Europe. • Email: dpaglinawan@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
26-06-2025
- Business
- Business Wire
Hims & Hers Health, Inc. (NYSE: HIMS) Accused of 'Illegal Mass Compounding and Deceptive Marketing' Practices; Investors Urged to Contact Award-Winning Firm, Gibbs Mura
OAKLAND, Calif.--(BUSINESS WIRE)--Gibbs Mura announces that on June 25, 2025, a lawsuit was filed against Hims & Hers Health, Inc. ('Hims and Hers') on behalf of investors who purchased or acquired Hims & Hers securities between April 29, 2025, and June 23, 2025. Shares of Hims & Hers previously fell over 33% in intraday trading on Monday, June 23, 2025, after Novo Nordisk announced it was ending its collaboration with the telehealth company following concerns that it was engaging in 'deceptive promotion and selling of illegitimate, knockoff versions of [weight loss drug] Wegovy that put patient safety at risk.' Gibbs Mura encourages investors to contact us about their legal rights and options in the Hims & Hers Health, Inc. (NYSE: HIMS) Securities Class Action Lawsuit. What Should Hims & Hers Investors Do? If you invested in HIMS, visit our Hims & Hers Health, Inc. lawsuit investigation webpage, or call us at (888) 410-2925 to get more information about how you may be able to recover your losses. Our investigation concerns whether Hims & Hers has violated federal securities laws by providing false or misleading statements to investors. What is the Hims & Hers Lawsuit Investigation About? On June 23, 2025, Novo Nordisk announced it was terminating its collaboration with Hims and Hers following concerns that it was reportedly engaging in deceptive marketing practices and illegally promoting cheaper knock-off versions of the weight loss drug, Wegovy. In April 2025, Novo Nordisk said it would offer Wegovy through a number of telehealth companies, including Hims & Hers, following the end of a Wegovy shortage. The end of this shortage 'meant compounding pharmacies were legally restricted from making and selling cheaper, unapproved versions of the drug by May 22 – with rare exceptions,' as reported by CNBC. Then, on Monday, June 23, 2025, Novo Nordisk issued a statement that it was terminating its relationship with Hims and Hers because the company 'failed to adhere to the law which prohibits mass sales of compounded drugs under the false guise of 'personalization,'' adding that the company is 'disseminating deceptive marketing that put patient safety at risk.' The lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and specifically failed to disclose to investors that Hims and Hers was engaged in the 'deceptive promotion and selling of illegitimate, knockoff versions of Wegovy that put patient safety at risk' and 'as a result, there was a substantial risk that the Company's collaboration with Novo Nordisk would be terminated.' About Gibbs Mura, A Law Group Gibbs Mura represents investors nationwide in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world's largest corporations, and our attorneys have received numerous honors for their work, including 'Best Lawyers in America,' 'Top Plaintiff Lawyers in California,' 'California Lawyer Attorney of the Year,' 'Class Action Practice Group of the Year,' 'Consumer Protection MVP,' and 'Top Women Lawyers in California.' This press release may constitute Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Yahoo
23-06-2025
- Business
- Yahoo
Hims & Hers, healthcare stocks, BNY: Trending Tickers
Novo Nordisk (NVO) ended its weight-loss drug partnership with Hims & Hers (HIMS), sending shares of both companies lower. UnitedHealth (UNH), CVS (CVS), and Cigna (CI) are in focus as health insurers are set to simplify the authorization process, according to AHIP. BNY Mellon (BK) is reportedly considering a merger with Northern Trust (NTRS), according to the Wall Street Journal. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here. Time now for some of today's trending tickers. We are watching Novo Nordisk, Hims and Hers, Health Insurers, and Bank of New York Melon. First up, Hims and Hers shares plunging after Novo Nordisk says it's ending its partnership with the company that allowed the direct sale of its Wegovy. The pharmaceutical company saying Hims and Hers allegedly failed to follow laws prohibiting mass sales of compounded drugs and accusing the company of deceptive marketing that put patient safety at risk. There you're taking a look at the share price reaction here for both of the companies here. And it's notable because as what we had seen with Hims and Hers, it was certainly an effort by them to ensure that they could have some type of weigh-in on the user demand that they have seen flow into their different products where they had largely looked across some of the patents that expired and knew that they had to be in on the weight loss drug trend as well. And so partnership with Novo Nordisk was significant, but now it also means that you have to comply with some of the service-level agreements or expectations that that company you're partnering with has too. Yeah, it's been a tough ride for Hims and Her shareholders. I mean, the volatility in that stock has been epic, and it goes from one drug to the next, whether it's ED medication or now weight loss drugs. Uh, they have, you know, so much promise, such a great, loyal user base. It's a fantastic alternative, uh, for people, you know, it's secretive, it's online, it's right your door. Uh, so when this news happened, maybe it was a little bit of an overreaction, but, uh, to see it fall over 20% last I checked, uh, uh, extreme. And, uh, so we have to see what the next step is for them, but this was a big blow to their shareholders, and we'll see how they recover from that. Yeah, shareholders who've watched the stock actually move higher even with today's move, it seems, move higher year to date, 82%, but this major pullback certainly is going to test some of the mindset around the investment thesis for Hims and Hers. We're going to be continuing to watch that. We're also watching major health insurers signal a move towards simplifying prior authorization requirements for medicines and services. So, America's health insurance plans, an industry organization for insurers, they say that insurance companies will develop standard data and submission requirements by January 1st, 2027. Additionally, major insurers will cut down on claims that require prior authorization by January 1st, 2026 and will make sure authorizations are valid for 90 days if a patient chooses to change insurers during the treatment here. You're seeing shares kind of move in different directions for United Health, which has been facing its own problems over the course of the year. Uh, but then two of the other insurers that we were showing on screen still moving higher here. And the insurance space is undergoing a vast majority of targeted changes, whether that be in how the claims are adjusted and looked through and evaluated, all the way through to the pricing and how the different models in their pricing are carried out as well here. So, a spate of changes that could be coming over the course of this year, which has have given investors a lot to think about with these insurers. Yeah, it's been the one sector in trouble times that usually does well, and it's been the second worst performing sector year to date. Only discretionary lags, and it's one of two that are down. Uh, we know UNH has had their own troubles. That goes without saying. But the sector itself has been beaten down. Anything that can one help us as, you know, users of these platforms, streamline operations, cut costs down. Oh, yeah. I mean, it's ridiculous. But this is something the Trump administration had talked about for a while. Uh, we just have yet to see some results, and this may not bode well for the insurers themselves, but for the utilizers of those insurances, any anything to streamline operations would be great. So, I don't see an uptake in the sector as a result of something like this, but it's positive progress, at least for, you know, you and I. Absolutely. And finally here in our trending tickers, we're continuing to track Bank of New York Melon eyeing a potential merger with Northern Trust. This is according to the Wall Street Journal here. Now, the chief executives of Bank of New York Melon and Northern Trust reportedly had at least one conversation, and BNY is considering next steps. BNY had no comment on the report here. A merger between the two companies would create an investment management giant overseeing more than 3 trillion dollars in assets. There you're taking a look at both of these firms. And the larger question upon the industry and the sector at large for banking and financial services is what this means for broader consolidation efforts right now to shore up some of their own operations. We have been waiting for a story like this to happen for ages. I'm talking 15, 20 years, pre-financial crisis. We've had bank mergers, but what have they been a result of? They've been a result of failures, uh, results of insolvency from some of these smaller banks. We had the regional banking crisis. So for this to start, this is something that we had predicted would happen under the Trump administration, lack of red tape, a lot of regional bank M&A activity. I look at some of these bigger regional banks, the PNCs, the M&Ts, the Regions Financials of the world. Technically, they've broken down trends, and they're looking like they want to reverse. You look at this Northern Trust. Okay, uh, it's trading around 120, 122. I didn't see the last sale. Uh, but its high was January 13th, 2022, of 133, 135 in that range. So if this deal is going to get done, and there's a little smoke usually in these things do get higher and out, I think there's an upside to at least that level to get the deal across the finish line, and the stock has been doing well. So this, to me, is fantastic. And when you have Bank of New York, Bank of New York Melon, first stock to ever trade the New York Stock Exchange, fun fact, BNY. Uh, Alexander Hamilton, he's not involved in this deal, but uh, this is something that investors should be happy about. If you look at the KRE, which is the regional bank sector, very wide swath of them underperforming the BKX, which is, you know, includes some regional, some of the larger banks. Uh, this is something that you may want to take a flyer on because this goes through, this happens, there are going to be a lot of other people having conversations over the few, uh, upcoming months. It's interesting, and it brings me back to one of the thought processes that we had heard from Torsten Slok of Apollo, the chief economist there, who had put out within his banking sector outlook. Banking sector balance sheets are generally in good shape, credit growth positive driven by lending in large banks, but it does make you consider how many of these banks are trying to make sure that they're diversifying their streams of revenue and their income here, and what could be possibly pushing this deal forward is that thought process from these two major entities. Without a doubt, and this would put Bank of New York into the Chicago market. You know, they have Pittsburgh with Melon, but, uh, to me, yes, uh, rates have been stable and steady, higher for longer. They've absorbed this, all the banks have. Uh, mortgage market has been kind of tricky. So maybe it's the time for some of these smaller banks to find a larger partner. And you get some of these super regionals joining forces. To me, it makes sense, and we have the administration to back it. So, uh, I think this is something to really keep a close eye on going forward. Yeah, to your point, potentially larger footprint that we could be seeing here if this goes through. You could scan the QR code below to track the best and worst performing stocks of this session with Yahoo Finance's trending tickers page.
Yahoo
21-02-2025
- Health
- Yahoo
Shortage of Novo's Wegovy and Ozempic is resolved, FDA website shows
(Reuters) -A shortage of Danish drugmaker Novo Nordisk's popular weight-loss and diabetes drugs, Wegovy and Ozempic, has been resolved, the U.S. Food and Drug Administration's website showed on Friday. The resolution could potentially restrict how telehealth programs offer cheaper versions known as compounded drugs and comes two months after the health regulator said there was no shortage of Eli Lilly's weight-loss and diabetes drugs. Demand for compounded drugs - custom medicines that are made by combining, mixing or altering drug ingredients - has boomed in the U.S. due to a tight supply of famous treatments from Novo and Eli Lilly. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. U.S. regulations allow compounding pharmacies to copy brand-name medicines that are in short supply, but do not allow them to make the drugs "regularly or in inordinate amounts". Both Novo and Lilly have invested billions to ramp-up supply of their treatments, which has lagged demand for most of last year. All doses of Novo's diabetes treatment Ozempic and weight-loss drug Wegovy were listed as available on the FDA's website in October, but the treatments were not taken off the official shortage list. The health regulator usually assesses if all back-orders have been filled before deciding on whether a shortage has been resolved. Several companies, such as Hims and Hers and WeightWatchers, offer compounded semaglutide, the active ingredient in Ozempic and Wegovy. Shares of Hims and Hers tumbled 19% in premarket trading.
Yahoo
09-02-2025
- Health
- Yahoo
U.S. senators criticize SF company over Super Bowl commercial
The Brief Hims and Hers is a telehealth firm based in San Francisco U.S. Senators Dick Durbin and Roger Marshall are criticizing a Super Bowl commercial by the company SAN FRANCISCO - Outside the game, commercials are a big part of Super Bowl Sunday. Companies pay large amounts of money for their advertisements. One company based in the Bay Area has already released its commercial, and it's drawing criticism from lawmakers in Washington. Hims and Hers, headquartered in San Francisco, is a telehealth firm, and in their latest ad, they promote a weight-loss drug similar to Ozempic. U.S. Senators Dick Durbin (D-IL) and Roger Marshall (R-KS) sent a bipartisan letter to the FDA about the advertisement, accusing the ad of misleading patients by "omitting any safety or side effect information when prompting a specific type of weight loss medication," according to a statement on Durbin's website. "An upcoming Super Bowl advertisement…appears to showcase a company's ability to prescribe and dispense GLP-1 medications to patients, including with text and claims about weight loss drugs, and imagery of an injection pen with distinctive characteristics reflective of an existing brand-name medication. However, nowhere in this promotion is there any side effect disclosure, risk, or safety information as would be typically required in a pharmaceutical advertisement," the senators wrote in part. The other side KTVU reached out to the San Francisco-based firm about the controversy. "We agree with the Senators, Durbin and Marshall, on the value of compounding and telehealth when it comes to expanding much-needed access to personalized care. We are complying with existing law and are happy to continue working with Congress and the new Administration to fix the broken health system and ensure that patients have choices for quality, safe, and affordable healthcare," Hims and Hers said in response. The Source Senator Durbin's website, Hims and Hers spokesperson
