HIMS Stock Slumps After-Hours On Regulatory Scrutiny On Heels Of Compounded Wegovy Pill Launch
Synopsis
The U.S. Food and Drugs Administration Commissioner Martin A Makary announced the agency’s intent to restrict the ingredients used by Hims as alternatives to FDA-approved drugs.
Shares of Hims & Hers (HIMS) plummeted 13% after-hours on Friday after HHS General Counsel Mike Stuart referred the company to the Department of Justice for investigation over potential violations of laws aimed at ensuring safety of drugs.
The U.S. Food and Drugs Administration (FDA) Commissioner Martin A Makary also announced the agency’s intent to restrict the ingredients used by Hims as alternatives to FDA-approved drugs.
The probe comes on the heels of the company launching a compounded version of Novo Nordisk’s (NVO) obesity pill called Wegovy on Thursday.
Get updates to this developing story directly on Stocktwits.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.