Why Hims & Hers Stock Just Collapsed
Hims Hers Health (NYSE: HIMS) stock took a tumble Thursday morning, falling 9.2% through 11:40 a.m. ET on some (vicariously) bad news out of the Great State of Texas.
The U.S. District Court for the Northern District of Texas just ruled in a lawsuit related to GLP-1 weight loss drugs, and the ruling has negative implications for Hims Hers' business.
The story goes like this. Deep in the heart of Texas, the Outsourcing Facilities Association, or OFA, filed suit against the FDA, aiming to prevent the FDA from saying there's no longer a shortage of tirzepatide, the active ingredient in Eli Lilly's Zepbound weight loss drug -- much like semaglutide is the active ingredient in Novo Nordisk's Ozempic.
Source Fool.com
