After two months, Novo Nordisk and HIMS part ways
Novo Nordisk and HIMS end their partnership that brought cheaper Wegovy (Semaglutide) to customers of HIMS.
Widespread access to Semaglutide (Ozempic, Wegovy, Rybelsus) and Tirzepatide (Mounjaro, Zepbound) via compounding made Novo Nordisk and HIMS enemies.
While consumers were happy to be able to get GLP1 Receptor Agonists at much lower cost, HIMS, other compounding pharmacies and companies ties to them were eating directly into companies like Novo Nordisk and Eli Lilly's profits.
Eli Lilly sued compounding pharmacies:
GLP1.Guide Staff
While initially antagonistic, Novo Nordisk, which was facing a somewhat more intense dip in demand due to the greater effectiveness of Tirzepatide actually went another way – they partnered with HIMS just two months ago:
With the possibility of losing access to Semaglutide, HIMS customers (and investors) were understandably excited about getting direct access to Semaglutide from the manufacturer, which could bring hims out of what had now become "gray market" sourcing of Semaglutide.
Well, that's gone the other way now, with Novo Nordisk breaking the partnership:
NOVO NORDISK INC.
Why did Novo break it off? "mass compounding"
Well, it looks like HIMS just couldn't be convinced to stop doing the compounding it was doing. One can only imagine what the kinds of meetings were like between the HIMS executive teams and Novo Nordisk's, but HIMS was clearly not interested (from the beginning) in slowing down their efforts to undercut their own business partners.
Just as a gut check – note that companies don't normally become partners then call it quits 2 months after starting. This is highly unusual behavior.
The interview in the Los Angeles times is quite revealing:
Naomi Kresge and Madison Muller
Par for the course in 2025, it seems like there was a bit of back and forth, with a Novo Nordisk VP noting the reason for the split:
“The big issue with Hims is that we had an agreement that the mass compounding would stop and unfortunately it didn’t stop,”
A HIMS executive fired back, claiming that Novo had been pressuring sales of Wegovy:
He said Novo had been pressuring Hims to “steer patients to Wegovy regardless of whether it was clinically best for patients.”
Both of these arguments seem pretty standard/reasonable, but what might be amazing is that this partnership could have started with out binding agreement that compounded Semaglutide was off the table. Perhaps there was some sort of cultural difference.
HIMS' branded prices have increased, but compounded formulations remain
The prices advertised on HIMS' website have gone back up to greater than what MSRP is for (and certainly what you can get direct):
Clearly, they've lost any edge on what they can offer pricewise, but customers may still order from HIMS just due to familiarity.
Interestingly enough, compounded semaglutide and generic Liraglutide are still listed:
The instructional and warning pages for Compounded Semaglutide are still available as well – clearly they're still selling it.
HIMS is continuing to sell compounded Semaglutide for $165 a month!
Novo Nordisk still has other partners
Does this mean the end of cheaper Semaglutide sourced directly from Novo Nordisk? Luckily, no – Novo Nordisk still has other partners to look to:
- LifeMD Inc
- Ro
Both of these companies are still providing Semaglutide (and likely avoiding compounded semaglutide from now on) and will work with Novo Nordisk to sell drugs like Ozempic and Wegovy at reduced cost.
Is HIMS using the B12 exception?
One of the most interesting things about this development is that HIMS could be performing the "B12 maneuver" – they are adding vitamin B12 in order to argue that their compounded Semaglutide is distinct from normally manufactured Semaglutide.
At present unfortunately we just don't know – HIMS was noted to be doing "personalized" doses, but it's unclear just how that personalization works (and whether it's actually personalized). There are other compounding pharmacies/related companies who continue to sell compounded GLP1s, and they are keeping their secrets close to the chest (and being sued for it).
Simply adding B12 didn't seem likely to us to be successful as a way to continue compounding, but the jury isn't out yet – until we can find a compounder that has taken this strategy and been successfully sued for it, it stays an unverified rumor.
B12 does not seem to proven to reduce side effects of taking Semaglutide or other GLP1s, so it's still somewhat unlikely that this is HIMS' "personalization" solution.
So how is HIMS getting by? Well the "personalized dose" is likely an additive that reduces side effects, as reported by Reuters:
Hims said it is now selling "personalized" dosages of Wegovy, starting at around $165 a month, under rules allowing it for clinical reasons such as decreased side effects.
This makes sense, and also mirrors the interests of Novo Nordisk and Eli Lilly who are investigating boosters (like Bimagrumab and Cagrilinitide).
HIMS is also selling "oral weight loss kits"
While Semaglutide (i.e. a GLP1, which is researched and known to work) is available in oral form via Rybelsus, HIMS is also selling an Oral Weight Loss Kit which contains a bevy of things:
The ingredients make a cocktail of previously effective weight loss drugs:
- Bupropion
- Metformin
- Topiramate
- Vitamin B12
- Naltrexone
Topiramate we've actually covered in the past:
GLP1.Guide Staff
These drugs are dramatically less effective than modern GLP1 drugs, and it's somewhat questionable to list these drugs next to the wildly effective and safe to use GLP1 Receptor Agonist class of drugs.
Moves like these are likely what lead to Novo Nordisk accusing HIMS of "deceptive marketing".
The average customer is probably not too convinced by this option however, as "Ozempic" and "Mounjaro" have mindshare, and the results speak for themselves.
