LifeMD stock down 25% as worsening outlook overshadows Novo Nordisk partnership news

Shares of telemedicine platform LifeMD plunged 25% in early trading this morning, November 18. The company’s quarterly results came in weaker than Wall Street expected, and the management also lowered its revenue outlook for the year. The stock was not supported even by an agreement with Novo Nordisk that LifeMD announced earlier in the day yesterday. Under its terms, the platform will sell the pharma giant’s best-selling drugs Wegovy and Ozempic at “the lowest cash-pay pricing available nationwide.”

LifeMD shares fell 25% in morning trading today to about $3.53 apiece. The main session yesterday ended with a 2.2% gain to $4.73 per share.

On Monday, November 17, the company delivered two major announcements. In the afternoon, it unveiled an agreement with Denmark’s Novo Nordisk for patients using LifeMD’s telemedicine platform to be able to buy the pharma giant’s two best-selling medications – Wegovy for weight loss and Ozempic for diabetes – at “the lowest cash-pay pricing available nationwide.” The offer is aimed at first-time self-purchasers without insurance and is good for two fills. It is part of Novo Nordisk’s broader strategy, as the drugmaker also announced lower prices for new patients through direct sales.

After the close of U.S. trading yesterday, LifeMD reported a 13% year-over-year increase in third-quarter revenue to $60.2 million, while Wall Street was expecting $62.07 million, Benzinga notes. In July through September, the company faced pressure from competition with suppliers of low-cost compounded alternatives to obesity drugs, LifeMD Chair and CEO Justin Schreiber said in the company’s statement. The net loss per share for the period was about $0.03 worse than analysts had forecast and came in at $0.08, according to Yahoo Finance data.

LifeMD also lowered its 2025 revenue guidance for the second time this year. In May, it projected $268-275 million, then cut that to $250-255 million in August, while the new outlook is only $192-193 million. The management noted that it has sold one of its WorkSimpli divisions and is now focusing on its telemedicine business. It also cited the need to adjust prior-period figures.

The company also lost commissions from manufacturing personalized weight-loss drugs, which impacted its fourth quarter outlook, CFO Marc Benathen said on the earnings call. Pharmacies had been able to produce such medications during a period of shortages in the U.S. market for original drugs, but have since stopped.

Benathen expects that expanding insurance coverage for obesity medications, as well as the potential introduction of oral versions of these therapies – which are currently only available as injections – will support the company’s business in 2026.

LifeMD shares have three “buy” recommendations from Wall Street analysts versus no “sell” recommendations, MarketWatch data shows. The average target price of $12.33 per share implies upside of 2.6 times versus the last closing price.

The AI translation of this story was reviewed by a human editor.