Hims & Hers Health Shares Fall After FDA Removes Eli Lilly Obesity Drugs From Shortage List
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Dow Jones
By Don Nico Forbes
Shares in Hims & Hers Health fell after the U.S. Food and Drug Administration said Eli Lilly's obesity and diabetes drugs are no longer in shortage.
Shares were down 7% in premarket trading to $17.64.
The telehealth company had taken advantage of shortages in Lilly and rival Novo Nordisk drugs to develop copycat treatments, as sanctioned by the FDA.
However, the FDA removed Eli Lilly's blockbuster weight-loss and diabetes drugs from its shortage list late Wednesday, meaning production of compounded versions is no longer permitted.
Write to Don Nico Forbes at don.forbes@wsj.com
(END) Dow Jones Newswires
October 03, 2024 07:28 ET (11:28 GMT)
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