Hims & Hers falls, Novo Nordisk rises after FDA says Ozempic shortage is over
The popular weight-loss drugs Ozempic and Wegovy are no longer in a shortage, the Food and Drug Administration said Friday, making it more difficult for telepharmacies to sell copycat versions.
Shares of Novo Nordisk, the company that makes those drugs, shot up by more than 5% in early trading. Hims & Hers, an online pharmacy that sells compound versions of Novo’s drugs, fell by more than 20%.
The move means that compounding pharmacies no longer have permission to make exact copies of Ozempic and Wegovy. There are still loopholes, though, that could allow pharmacies like Hims & Hers to continue selling compounding versions, like if they add or remove an ingredient based on a patient’s need. If a patient is allergic to a nonactive ingredient in a drug that’s not in shortage, for example, a compounding pharmacy can still sell a version without that ingredient.
Hims & Hers — which has gone all-in on selling weight-loss drugs — did not immediately respond to a request for comment. Its CEO, Andrew Dudum, has previously told Bloomberg he expects the company to offer compounded weight-loss drugs “indefinitely,” even after the shortages are lifted, as long as they’re customized for each patient.
Dudum confirmed in a Friday statement on X that the company will “continue to offer access to personalized treatments as allowed by law to meet patient needs.” He noted that there might be future shortages given that Novo said in its 2025 outlook, released earlier this month, that it may face “capacity limitations” on Ozempic and Wegovy.
