Hims tumbles after Novo Nordisk's lawsuit over patent infringement

Shares of U.S. telehealth firm Hims & Hers Health HIMS.N fall 21.8% in premarket trading

Novo Nordisk NOVOb.CO shares up 8%, on track for best day since December; Eli Lilly LLY.N gains 2% premarket

*Novo says it has filed a lawsuit against Hims & Hers for infringing on the Danish group's patents

"Novo Nordisk is asking the court to permanently ban Hims from selling unapproved, compounded drugs that infringe our patents, and is seeking to recover damages," Novo says

Hims says the lawsuit is a "blatant attack by a Danish company on millions of Americans who rely on compounded medications for access to personalized care"

"Once again, Big Pharma is weaponizing the US judicial system to limit consumer choice," Hims says in a response on the X platform

HIMS said on Saturday it would stop offering its compounded $49 GLP-1 weight-loss pill after the U.S. FDA threatened action against the co, citing potential violation of federal law

HIMS declined about 29% YTD, underperforming a 1% rise in the S&P 500 .SPX