Hims stock drew attention after Hims & Hers said on Saturday it would stop selling a knockoff version of Novo Nordisk's new pill form of Wegovy, and the announcement raised questions about hims stock among observers.
The company introduced the offering on Thursday and was immediately met with sharp backlash, as reported by news accounts. Hims priced its version at forty nine dollars for the first month and ninety nine dollars for each month after.
Novo Nordisk's pill has sold briskly since its launch, with about one hundred seventy thousand people purchasing the product since it was introduced in early January, as reported by news accounts. Novo's pricing stands at one hundred forty nine dollars for the first month and one hundred ninety nine dollars thereafter, according to the same reporting.
Hims said the decision to cancel the pill offering came after "constructive conversations with stakeholders across the industry," as stated by the company in its announcement.
Regulatory Referral and Industry Reaction
The move followed a public signal from federal regulators who suggested the product might be illegal. Mike Stuart, the top lawyer for the Department of Health and Human Services, wrote on X that his office had referred Hims to the Justice Department for potential violations of a federal law that regulates the sale of medications.
Hims had sought to capitalize on consumer demand for the new tablet version of Wegovy, and its announcement came just hours before President Trump unveiled a government pricing site called TrumpRx, where Novo's pill is prominently featured. The company said it aimed to offer a lower price point than other options, but the rapid backlash and regulatory attention prompted the withdrawal.
News accounts described the episode as swift and public, noting that Hims introduced the product on Thursday, faced scrutiny on Friday, and announced the withdrawal on Saturday. The company framed its action as responsive to industry dialogue, while federal officials indicated they were reviewing potential legal issues.
