Hims stock popped Monday after the Food and Drug Administration reportedly said it would reconsider its decision to bar compounders from selling knockoff versions of Eli Lilly's (LLY) obesity and diabetes drugs.
While it's doing so, compounding pharmacies and facilities will be allowed to sell their versions of Lilly's Zepbound and Mounjaro. Compounded drugs — like those sold by Hims & Hers Health (HIMS) — tend to be less expensive than the branded drugs.
In midday trades, Hims stock jumped 10.5% to 20.65. That pushed shares above a short-term high and the trendline around 20. Lilly stock dipped a fraction.
Hims Stock Takes A Hit As Tirzepatide Battle Unfolds
The active ingredient behind Zepbound and Mounjaro is tirzepatide. Mounjaro was added to the FDA's drug shortage list in 2022. Zepbound joined in April. But the FDA recently removed tirzepatide from its list of drugs experiencing shortage
https://www.investors.com/news/technology/hims-stock-compounded-zepbound-tirzepatide-shortage/
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