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Investing.com -- Hims & Hers CEO Andrew Dudum has shared new information about the company’s terminated partnership with Novo Nordisk (NYSE:NVO), which ended in June 2025, in an interview with The Washington Post.
According to Dudum, the relationship deteriorated shortly after an April 11 meeting where Hims executives discussed with Novo Nordisk their plans to continue offering "personalized" doses of compounded semaglutide alongside Wegovy. Dudum claimed there was "no hearty debate" on this issue during the meeting, though he acknowledged Novo showed dissatisfaction with Hims not dropping compounded semaglutide entirely.
The companies had been discussing a new product arrangement where Novo would produce Wegovy vials for Hims to sell under its own brand. However, Dudum said Novo’s position changed within days of their meeting, with his team suddenly facing pressure to prioritize Wegovy over compounded alternatives.
Novo Nordisk ultimately terminated the partnership in June, accusing Hims of illegally selling compounded versions of Wegovy and using deceptive marketing practices. The Danish drugmaker released what Dudum described as a "scathing press release" without prior notification, leaving him feeling "blindsided."
Hims & Hers has denied Novo’s allegations, instead claiming the pharmaceutical company pressured them to prioritize Wegovy over patient needs. The dispute triggered a 30-35% drop in Hims’ stock price and has sparked potential legal action, including a class action lawsuit against Hims for allegedly misleading investors about safety and operational risks.
When asked about Dudum’s account, Novo declined to comment on specific conversations, stating only that "We don’t disclose private business conversations" and that "Every company we work with is aware of our stance and expectations."
Despite the contentious split, Dudum said he wouldn’t rule out working with Novo Nordisk in the future. Hims & Hers continues to offer Wegovy on its platform at retail price.
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