Hims & Hers (HIMS) Rallies 11.76% as CEO Not Backing Down After Novo Nordisk Spat

Hims & Hers Health, Inc. (NYSE:HIMS) is one of the 10 Stocks Delivering Eye-Popping Gains.

Hims & Hers rebounded by 11.76 percent on Thursday to close at $46.28 apiece amid reaffirmations to continue offering cheaper compounded versions of GLP-1 weight-loss drugs, despite the cancellation of its tie-up with Novo Nordisk (NYSE:NOVO).

According to Hims & Hers Health, Inc. (NYSE:HIMS) CEO Andrew Dudum, he was upset “that Novo is feeling the pressure and not comfortable, but ultimately, I think us holding strong to fighting on behalf of customers is just who we are.”

“There’s just no way in hell we’re going to cave on that, no matter who the pharma company is or what the partnership looks like,” he added.

Last week, Novo Nordisk terminated its partnership with Hims & Hers Health, Inc. (NYSE:HIMS) over allegations that the latter failed to adhere to the law, which prohibits mass sales of compounded drugs under the false guise of “personalization.”

Additionally, Novo Nordisk claimed that Hims & Hers Health, Inc. (NYSE:HIMS) was disseminating deceptive marketing that put patient safety at risk.

Following the cancellation, direct access to Wegovy will no longer be available to Hims & Hers Health, Inc. via NovoCare Pharmacy.

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Disclosure: None. This article is originally published at Insider Monkey.