March 6 (Reuters) - Wegovy maker Novo Nordisk plans to sell its weight-loss drugs on Hims & Hers Health platform, bringing an end to a dispute between the two companies that escalated into a legal
Novo and Hims to sell obesity drugs together as feud ends, Bloomberg News reports
Novo Nordisk and Hims & Hers Health End Dispute and Form Partnership
Background of the Dispute
March 6 (Reuters) - Wegovy maker Novo Nordisk plans to sell its weight-loss drugs on Hims & Hers Health platform, bringing an end to a dispute between the two companies that escalated into a legal battle last month, Bloomberg News reported on Friday.
Market Reaction
Hims shares surged 39% in after-hours trading after the report.
Legal and Regulatory Issues
The report comes nearly a month after Novo sued Hims over patent infringement following the U.S. telehealth firm's launch, and then cancellation, of a $49 copy of Novo's obesity pill.
The U.S. Food and Drug Administration had also threatened action against Hims.
Details of the New Partnership
Announcement Timeline
Novo and Hims plan to announce a new partnership as soon as Monday, the report said, citing a person familiar with the matter.
Previous Agreements and Marketing Concerns
Last year, Novo ended a short-lived agreement to sell its Wegovy weight-loss drug through Hims over the company's marketing tactics and continued sales of Wegovy copies.
Statements from Both Companies
A Novo spokesperson said in an e-mailed statement the company is "always in conversation with companies that can help improve patient access to FDA-approved medicines".
Hims did not immediately respond to a request for comment.
Reporting Credits
(Reporting by Carlos Méndez in Mexico City, additional reporting by Mihika Sharma in Bengaluru; Editing by Himani Sarkar)
