Novo Nordisk A/S (NVO) shares took a hit on Thursday after the Danish pharmaceutical company found itself facing an antitrust lawsuit from compounding pharmacy Strive Specialties. The legal complaint, filed Wednesday in federal district court in San Antonio, Texas, alleges that Novo Nordisk and Eli Lilly and Co (LLY) have been illegally blocking access to customized versions of their wildly popular weight-loss medications.

The Monopoly Allegations

Here's the core of Strive's argument: the two pharmaceutical giants allegedly leveraged their market dominance to prevent patients from accessing compounded alternatives to drugs like Ozempic and Wegovy. According to the lawsuit, this wasn't just passive market control. Strive claims Novo Nordisk and Eli Lilly actively struck exclusive deals with major telehealth platforms that effectively stopped doctors from prescribing compounded GLP-1 medications, even when patients needed a tailored dose.

The pharmacy also alleges the companies went further, interfering with Strive's relationships with payment processors and technology partners. From Strive's perspective, compounding pharmacies filled a critical gap during drug shortages and continue to offer options that brand-name drugs simply don't provide, particularly for patients who need customized dosing.

What Strive Wants

The pharmacy is seeking monetary damages and a court order that would prevent Novo Nordisk and Eli Lilly from enforcing the alleged exclusivity agreements moving forward.

Novo Nordisk isn't backing down. The company responded by stating that "the claims in this litigation are without merit, and we will vigorously defend against them in court."

Price Action: Novo Nordisk shares were down 3.40% at $56.91 at the time of publication on Thursday.