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Stock Track | Hims & Hers Stock Plunges on Concerns Over Weight-Loss Drug Shortage

Stock Track10-03

Shares of Hims & Hers Health Inc. (HIMS) plunged nearly 8% in pre-market trading on Wednesday, as investors reacted to concerns over the potential end of a shortage that has allowed the telehealth company to offer affordable versions of popular weight-loss drugs.

Hims & Hers has been selling compounded versions of drugs like Wegovy and Ozempic, which are used for weight loss and diabetes treatment, at a fraction of the cost charged by pharmaceutical giants Eli Lilly and Novo Nordisk. The company has been able to do so due to federal laws that allow compounding pharmacies to produce copies of drugs that are in shortage.

However, the Food and Drug Administration (FDA) is currently working to determine whether the supply of these drugs is sufficient to consider the shortages resolved. If the FDA lifts the shortage designation, compounding pharmacies would be required to stop producing the copycat drugs within 60 days, potentially dealing a significant blow to Hims & Hers' revenue from this segment.

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judyspt
·10-03
Same old news again
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