BUZZ-Hims and Hers falls as US shortage of Novo's weight loss drug is resolved
Shares of telehealth firm Hims and Hers HIMS.N, which offers compounded versions of weight-loss drugs, fall 20.4% to $52.8
The U.S FDA says that a shortage of Novo Nordisk's NOVOb.CO weight-loss and diabetes drugs, Wegovy and Ozempic, has been resolved as per the agency's website
The resolution could restrict how telehealth programs offer cheaper versions known as compounded drugs
For HIMS and other compounders "this development starts the clock on having unfettered market access" to Novo's drugs, says brokerage Leerink Partners
It will be critical to understand HIMS' legal pathway to selling personalized doses for semaglutide - since it is the primary way it can continue selling the drug, Leerink added
US government regulations allow compounded versions of a branded drug to be sold to meet demand if the drug is in shortage
Stock has risen nearly seven-fold in the past 12 months
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