Shares of Hims & Hers tumble 23% after FDA says semaglutide is no longer in shortage
Shares of Hims & Hers Health tumbled more than 23% on Friday after the U.S. Food and Drug Administration announced that the shortage of semaglutide injection products has been resolved. Semaglutide is the active ingredient in Novo Nordisk's blockbuster weight loss drugs Wegovy and diabetes treatment Ozempic. Those medications are part of a class of drugs called GLP-1s, and demand for the treatments has exploded in recent years. As a result, digital health companies like Hims & Hers have been pr