Novo Nordisk shares are rallying as Hims & Hers’ stock falters. An Ozempic alternative won’t be available for long.

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Steven Goldstein is based in London and responsible for MarketWatch’s coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch’s economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein.