Hims & Hers launches Wegovy knockoff pill, Novo Nordisk vows to sue

WASHINGTON (AP) — Telehealth company Hims & Hers said Thursday it will launch a cheaper, off-brand version of the weight-loss pill Wegovy, just weeks after drugmaker Novo Nordisk launched its highly anticipated reformulation of the blockbuster medication.

The announcement from Hims is the latest example of the company’s efforts to capitalize on the booming popularity of GLP-1 drugs like Wegovy, which have revolutionized weight loss treatment in the U.S.

For years, Hims has sold compounded versions of the weight-loss drugs, which were initially only available as injections. Novo Nordisk’s Wegovy is the first of the medications to become available in a pill format.

The Danish drugmaker responded to the news Thursday by vowing to sue Hims, calling the new product “an unapproved, inauthentic, and untested knockoff” of semaglutide, the chemical name for Wegovy.

“Novo Nordisk will take legal and regulatory action to protect patients, our intellectual property and the integrity of the U.S. gold-standard drug approval framework,” the company said in a statement.

Despite previous threats and warnings from the Food and Drug Administration, Hims has been able to keep its products on the market due to their status as compounded medications, a class of drugs that are customized and aren’t subject to strict federal regulations.

San Francisco-based Hims said it will launch its compounded pill at $49 for the first month, as part of an introductory offer for new customers, followed by $99 per month. That’s well below Novo’s price of $149 per month.

In September, the FDA issued a warning letter to Hims over “false and misleading” marketing language which regulators said suggested its compounded products were the same as FDA-approved GLP-1 drugs.

Thursday’s announcement from the company states that its pill contains “the same active ingredient as Wegovy,” but also mentions that is it not “approved or evaluated for safety, effectiveness, or quality by the FDA.”

The FDA permits specialty pharmacies and other companies to make compounded versions of brand name drugs when they are in short supply. And the booming demand for GLP-1 drugs in recent years prompted companies like Hims to jump into the multibillion-dollar market for the drugs, with many patients willing to pay cash.

Beginning in 2024, FDA began announcing that GLP-1 drugs were no longer in a shortage, a step that was expected to put an end to the compounding. But there is an exception: The practice is still permitted when a prescription is customized for the patient.

Hims and other companies say they offer “personalized” dosages and formulations of GLP-1 drugs that benefit patients.

“Whether a patient needs a specific dosage adjustment or prefers a compounded semaglutide pill over an injection, our platform now supports a deeper level of personalization," said Dr. Craig Primack, who heads weight-loss products at Hims, in a statement Thursday.

Shares of Novo Nordisk A/S fell more than 8% in afternoon Thursday.

The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.

FILE - This photo shows Novo Nordisk headquarters in Bagsvaerd, Denmark, on Feb. 5, 2025. (Mads Claus Rasmussen/Ritzau Scanpix via AP, File)

Home Depot got a lift in the first quarter from professionals and also homeowners stocking up on spring supplies.

"The underlying demand in our business was relatively similar to what we saw throughout fiscal 2025, despite greater consumer uncertainty and housing affordability pressure,” CEO Ted Decker said Tuesday.

The housing market has been static as Americans consumers wrestle with rising costs and other economic concerns.

Sales of previously occupied U.S. homes were essentially flat in April, another lackluster showing for the housing market during what’s traditionally its busiest time of the year. Existing home sales edged up 0.2% last month from March to a seasonally adjusted annual rate of 4.02 million units, the National Association of Realtors said a week ago. Sales were unchanged compared to April last year.

The U.S. housing market has been in a slump dating back to 2022, the year mortgage rates began climbing from historic lows that fueled a homebuying frenzy at the start of this decade. American consumers are cautious as gas prices fuel an inflation surge of 3.8% in the U.S. Labor Department figures last week showed that gasoline prices are up more than 28% compared with a year ago.

For the three months ended May 3, Home Depot earned $3.29 billion, or $3.30 per share. A year earlier the Atlanta company earned $3.43 billion, or $3.45 per share.

Removing certain items, earnings were $3.43 per share. That's better than the $3.41 per share that analysts surveyed by FactSet were calling for.

Revenue climbed to $41.77 billion from $39.86 billion, which topped Wall Street's expectations for revenue of $41.59 billion.

Sales at stores open at least a year, a key gauge of a retailer’s health, rose 0.6%. In the U.S., comparable store sales climbed 0.4%.

Customer transactions declined 1.3% in the quarter, but the amount that shoppers spent increased to $92.76 per average receipt from $90.71 a year ago.

Home Depot still anticipates fiscal 2026 total sales growth of about 2.5% to 4.5% and comparable sales growth to be about flat to up 2%.

Shares rose more than 1% before the opening bell Tuesday.

FILE - A "For Sale" sign is displayed outside a home on Friday, July 11, 2025, in Portland, Ore. (AP Photo/Jenny Kane, File)