Novo Nordisk Files Lawsuit Against Hims & Hers Over Alleged Weight-Loss Drug Infringement
Novo Nordisk, the Danish pharmaceutical titan, initiated a significant lawsuit on Monday against telehealth provider Hims & Hers Health. The lawsuit alleges patent infringement over purported imitation versions of its highly successful weight-loss drugs, Wegovy and Ozempic.
The lawsuit demands the court to permanently prohibit Hims from selling compounded versions of semaglutide, the active ingredient in Novo’s obesity medications. Furthermore, it seeks to recover damages potentially amounting to hundreds of millions of dollars. According to Novo Nordisk, an estimated 1.5 million Americans are currently using compounded versions of its drugs.
Following the announcement, Hims & Hers shares took a 16% nosedive on Monday, while Novo Nordisk’s Copenhagen-listed shares saw an increase of over 3%. This legal action occurred just days after Hims announced, then quickly retracted, plans to sell a $49 imitation version of the Wegovy pill due to immediate backlash from the FDA and Department of Justice.
John Kuckelman, Novo’s group general counsel, denounced the situation as a “complete sham”. He added that compounded medicines put patients at risk as their safety and quality are not verified by U.S. regulators. Hims, in response, labeled the lawsuit as “a blatant attack by a Danish company on millions of Americans who rely on compounded medications for access to personalized care”.
Source: CNBC