Investors Sue After HIMS Botched GLP-1 Deal

Hims said it could help people lose weight—but all that got lighter were investors’ wallets. The telehealth giant launched a weight-loss drug program in partnership with Novo Nordisk. But behind the scenes, Hims relied on a third-party compounding pharmacy that sourced ingredients from an unapproved Chinese supplier. When investors found out, Him stock plunged 34%.  Now, investors are suing. 

In April 2025, Hims bragged about a new collab with Novo Nordisk. Novo promised Hims a legitimate way to distribute Weygovy. This looked to be a huge win for Hims, with execs claiming the “legit” GLP-1 program could drive profits. 

But behind the scenes, the program included GLP-1s compounded using ingredients from a Chinese-based supplier not authorized by Novo. In June, Novo cut ties. Hims stock dropped 34% as investors realized the “legit” launch might not have been so clean after all.

Now, more investors are joining the lawsuit.