Hims & Hers stock fall to a 12-month low after Novo said it's $49 Wegovy pill copy was "illegal"

Novo Nordisk and Eli Lilly fell after Hims & Hers said it will offer a copy of the Wegovy pill for $49, far less than the $149 Novo sells the branded pill for.

US telehealth group will sell product for $49 a month, a third that of its Danish competitor

Hims & Hers stock fall to a 12-month low after Novo said it's $49 Wegovy pill copy was "illegal"

The FDA said on Friday it plans to restrict GLP-1 ingredients used in non-approved compounded drugs from companies like Hims & Hers.

Novo Nordisk had accused the telehealth company of breaching its patent on Wegovy

Hims & Hers on Saturday announced it would stop offering its copycat of the weight-loss pill Wegovy after threats of legal action.

The announcement comes a day after the US Food and Drug Administration said it was cracking down on copycat weight-loss treatments.

Novo Nordisk shares jumped 8% Monday after Hims & Hers said it will pull its copycat weight-loss pill off the market.