BUZZ-Hims & Hers falls after US judge denies injunction on Zepbound copies

Reuters
03-06
BUZZ-Hims & Hers falls after US judge denies injunction on Zepbound copies

** Shares of telehealth firm Hims & Hers HIMS.N fall 9% to $37.2 premarket

** A U.S. federal judge has denied an injunction that would have allowed compounding pharmacies to keep making copies of Eli Lilly's LLY.N popular weight-loss drug Zepbound in the U.S

** The Outsourcing Facilities Association in October filed a lawsuit against the FDA over its decision to remove the drugs its shortage list, saying that it still remains in short supply

** HIMS sells compounded versions of Novo Nordisk's NOVOb.CO Wegovy and Ozempic, chemically known as semaglutide

** The ruling has "direct read-through to the pending semaglutide case which we also expect will go in the FDA's favor," says brokerage Citi

** HIMS shares have nearly tripled in the past 12 months

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com;))

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