Why Shares in Novo Nordisk Lost Weight Today
Shares in Denmark's pharmaceutical giant Novo Nordisk (NYSE: NVO) were lower by 4% as of 11 a.m. ET today. The move comes as the fallout from the sudden termination of its partnership with telehealth company Hims & Hers continues to escalate.On Monday, Novo Nordisk terminated the partnership, claiming Hims & Hers "failed to adhere to the law which prohibits mass sales of compounded drugs under the false guise of 'personalization'" and is "disseminating deceptive marketing."It's a strong statement to make, and Hims & Hers management, led by CEO Andrew Dudum, isn't wasting any time in responding.Continue reading
Shares in Denmark's pharmaceutical giant Novo Nordisk (NYSE: NVO) were lower by 4% as of 11 a.m. ET today. The move comes as the fallout from the sudden termination of its partnership with telehealth company Hims & Hers continues to escalate.
On Monday, Novo Nordisk terminated the partnership, claiming Hims & Hers "failed to adhere to the law which prohibits mass sales of compounded drugs under the false guise of 'personalization'" and is "disseminating deceptive marketing."
It's a strong statement to make, and Hims & Hers management, led by CEO Andrew Dudum, isn't wasting any time in responding.
