Novo Surges After Hims & Hers Abandons Wegovy Pill Copycat (2)

Novo Nordisk A/S shares reversed some of last week’s plunge after Hims & Hers Health Inc. pulled a copycat version of the new Wegovy weight-loss pill following US government threats to crack down on knockoffs.

The stock rose as much as 8.6% in Copenhagen trading, clocking its biggest gain so far this year. That follows a decline of more than 20% last week, when the company warned that its sales will fall more than expected this year and Hims & Hers launched its cut-price drug before abruptly reversing course.

Hims & Hers said it would stop ...