US Stock Market Move | "Will collaborate with Novo Nordisk A/S Sponsored ADR Class B to sell obesity drugs Hims&Hers Health (HIM.US), which surged nearly 35% at the opening."

On Monday, Hims & Hers Health (HIM.US) surged nearly 35% to $21.26, while Novo Nordisk A/S Sponsored ADR Class B (NVO.US) rose by almost 1% to $38.80. In terms of news, Novo Nordisk A/S Sponsored ADR Class B and Hims & Hers will collaborate to sell drugs for obesity. After a standoff that lasted over eight hostile months and eventually escalated into legal proceedings, the relationship between the two sides suddenly turned around. The two companies stated that Novo Nordisk A/S Sponsored ADR Class B has agreed to sell its flagship drugs Ozempic and Wegovy on the Hims platform, including the popular Wegovy oral tablets. At the same time, Novo Nordisk A/S Sponsored ADR Class B will withdraw the lawsuit filed against Hims last month. In return, Hims stated that it will no longer advertise its generic version of Novo Nordisk A/S Sponsored ADR Class B drugs. However, if doctors deem it necessary for patients to use them, the company will still sell a combination of Wegovy and Ozempic. Mike Doustdar, the CEO of Novo Nordisk A/S Sponsored ADR Class B, stated in an interview that this collaboration is part of a broader strategy aimed at increasing the prescription volume of Novo Nordisk A/S Sponsored ADR Class B's new oral Wegovy drug through partnerships with telemedicine providers, which is central to the company's growth strategy in the US.