Hims & Hers falls after Novo, Lilly strike pricing deal with Trump for weight-loss drugs

Shares of telehealth firm Hims & Hers Health HIMS.N fall 3% to $42.42

U.S. President Donald Trump, Eli Lilly LLY.N and Novo Nordisk NOVOb.CO unveiled a deal to slash the prices of popular GLP-1 weight‑loss drugs for the government's Medicare and Medicaid programs, as well as for cash payers

HIMS offers compounded versions of weight-loss drugs on its platform

*This limits the company's pricing advantage of their personalized GLP-1s and increases HIMS' dependence on going to market with a branded GLP-1 manufacturer to remain competitive in the evolving market — brokerage Needham

Shares up 71% YTD