Novo Nordisk and Eli Lilly fall after Hims & Hers announce $49 copy of Wegovy pill

Core Viewpoint - The announcement by Hims & Hers to offer a copy of the Wegovy pill at a significantly lower price has negatively impacted the stock prices of weight-loss drugmakers Eli Lilly and Novo Nordisk, while boosting Hims & Hers stock. Group 1: Market Reaction - Shares of Novo Nordisk fell by 7% following the news, while Eli Lilly's stock dropped by 6.1% shortly after the market opened [1] - Hims & Hers stock experienced a surge, increasing by 10% [1] Group 2: Product Launch and Market Dynamics - Novo Nordisk launched the Wegovy pill in the U.S. in early January, with CEO Mike Doustdar reporting that 170,000 people are currently using the medication [2] - Hims & Hers previously offered compounded semaglutide in an injectable format and is now expanding to an oral version [2] Group 3: Legal and Regulatory Aspects - Although semaglutide's patent is protected in the U.S. until 2032, Hims & Hers claims its copies are "personalized" and thus legal [3] - Hims & Hers states that its compounded product uses a different formulation and delivery system compared to FDA-approved oral semaglutide [3] - Eli Lilly is expected to launch a competing oral option in the first half of the year, pending FDA approval [3]