Eli Lilly, Novo Nordisk stir controversy after Hims & Hers announces Vegovy copy
Weight loss drug manufacturers Eli Lilly And Novo Nordisk After the telehealth company fell Snow and her announced on Thursday that it will offer a copy of the newly launched Wegovy pill for $49, much less than the $149 that Novo is selling the branded pill for.
Novo’s Copenhagen-listed shares fell 7%, while Eli Lilly stock fell 6.1% immediately after the opening bell.
Hims & Hers previously offered semaglutide, the active ingredient compound in Novo’s blockbuster drugs Ozempic and Wegovy, in an injectable format and is now expanding its offering to include an oral version.
Although semaglutide’s patent is protected in the US until 2032, Himes says copies of it are “personalized” and therefore legal.
“This combination product uses a different formulation and delivery system than the FDA-approved oral semaglutide,” the company said in the announcement.
“This once-daily pill contains the same active ingredient as Vegovy and enables providers to tailor treatment plans specifically for those who prefer to avoid needles or need smaller doses to help balance side effects.”
Lilly does not yet have an oral alternative on the market but is expected to launch a rival pill in the first half of this year, pending Food and Drug Administration approval.
CNBC could not immediately reach Novo Nordisk for comment.
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