Hims & Hers Health, Inc. (HIMS) - Lawmakers Urge Crackdown On Illegal Weight Loss Drugs, Novo's Termination of Collaboration With HIMS Triggers Securities Class Actions -- Hagens Berman

Core Viewpoint - Novo Nordisk terminated its collaboration with Hims & Hers due to concerns over sales practices and "deceptive" marketing of the weight-loss drug Wegovy® [1][5]. Group 1: Company Actions and Legal Implications - Novo Nordisk's termination of the partnership with Hims & Hers occurred less than two months after the collaboration began, highlighting serious regulatory compliance issues [5]. - Following Novo Nordisk's announcement, securities class action lawsuits were filed against Hims & Hers and its executives, representing investors who acquired Hims & Hers securities between April 29, 2025, and June 23, 2025 [2][6]. - Legal claims allege that Hims & Hers misled investors regarding its regulatory compliance and the revenue potential from its GLP-1 drug offerings [6][7]. Group 2: Regulatory Concerns and Market Impact - A group of over 80 bipartisan lawmakers urged the FDA to address the rising market for counterfeit GLP-1 drugs, citing risks to patient safety [4]. - The lawmakers' concerns were amplified by the fallout from the Hims & Hers and Novo Nordisk collaboration, which was marred by allegations of illegal compounding and deceptive marketing practices [4][5]. - Hims & Hers is accused of promoting unauthorized versions of Wegovy®, which could jeopardize patient safety and the company's relationship with Novo Nordisk [7][8].