Novo Nordisk Shares Drop to 2021 Low on Wegovy Copycat Pill (1)

(Adds Novo Nordisk comments.)

Novo Nordisk shares close down 7.9% at the lowest since July 2021. The Danish drugmaker said it plans to take legal and regulatory action after telehealth platform Hims & Hers Health said it will offer a copycat version of Novo’s Wegovy pill.

• “The action by Hims & Hers is illegal mass compounding that poses a significant risk to patient safety,” Novo said in a statement
• Novo says it’s the only company that “manufactures an FDA-approved Wegovy pill formulated with SNAC technology, which facilitates semaglutide absorption when administered orally”
• Compounded semaglutide is “not approved by the FDA ...