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

Shares of telehealth firm Hims & Hers HIMS.N fall 1.1% to $41.1 premarket

U.S. President Donald Trump, Eli Lilly and Novo Nordisk unveiled a deal on Thursday 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

The cuts, which the government said would reduce prices to between $149 and $350 a month on average for Americans, is aimed at expanding access

Starter doses of highly anticipated weight‑loss pills being developed by Lilly and Novo, if approved, will cost $149 per month to the government for its Medicare and Medicaid enrollees and to cash payers via the White House's new direct-to-consumer TrumpRx site, the White House said

As of last close, HIMS stock was up 71.7% YTD