BUZZ-Hims & Hers falls after FDA says lowest dose of Novo Nordisk's weight-loss drug available

Reuters
2024-10-31

** Shares of telehealth firm Hims & Hers Health fall 16.05% to $18.67 ** Lowest dose of Novo Nordisk's weight-loss drug, Wegovy, was listed as available on U.S. FDA's website

** FDA website now shows all five dose strengths of Wegovy and all three dose strengths of Ozempic are available

** "HIMS' shares are seemingly living and dying by the pace of GLP-1 headlines, despite GLP-1 revenue still being a small fraction of the total company revenue," Leerink Partners says

** "We think this risk of headline pressures, as well as the ability to swing the other way (such as the last clarification of FDA shortages) will continue to drive unnecessary volatility on HIMS shares," brokerage adds

** Including session's moves, stock has more than doubled YTD

(Reporting by Sneha S K) ((mailto:Sneha.SK@thomsonreuters.com;))

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