Hims & Hers Stock Soars 54%. It’s Struck a Truce With Novo Nordisk, Report Says.

Hims & Hers Health stock was rallying on Monday after a report said that the telehealth platform had struck a deal to end its battle with Novo Nordisk the Danish drugmaker that sells Ozempic and Wegovy. Novo’s American depositary receipts climbed 0.7%. Novo then said it had filed a lawsuit against Hims for selling what Novo’s general counsel John Kuckelman called “knockoff versions of Wegovy and Ozempic that evade the Food and Drug Administration’s gold standard review process.”