Hims & Hers Cancels Wegovy Knockoff After FDA Threatens Ingredient Access; SPY -0.25%

Hims & Hers (HIMS) announced it is ceasing to offer a compounded knockoff of Novo Nordisk’s Wegovy (semaglutide) injection, effective Saturday, Feb 7, 2026. The move follows the FDA’s Feb 5 threat to limit access to active ingredients in GLP-1 weight-loss drugs, prompting Novo to sue and prompting HIMS to halt its planned offering. The company had planned to sell the compounded pill for $49/month in the first month, down from $149 for Novo’s approved version. HIMS’ website reflected the change hours after the announcement. The decision does not affect its existing compounded injectables, which are sold under an exception allowing personalized prescriptions. Novo is scheduled to promote the new Wegovy in a Super Bowl ad Sunday.