U.S. Stock Movement | Hims & Hers Health falls over 7% after its weight loss drug promotional content receives FDA warning
On Tuesday, Hims & Hers Health's stock price fell, dropping over 7% to $49.99 as of the time of publication. The decline followed a formal warning letter from the U.S. Food and Drug Administration (FDA) regarding the company's promotional content for its "compound semaglutide" product. The FDA emphasized that the compound drug product itself has not been approved by the FDA and therefore cannot be equated with standard drugs that have undergone clinical trials and approval. The regulatory agency has required Hims & Hers to submit corrective measures within 15 business days, and failure to effectively address the related issues may result in legal sanctions, including product seizures and the issuance of injunctions
According to Zhitong Finance APP, on Tuesday, Hims & Hers Health (HIMS.US) saw its stock price decline, dropping over 7% to $49.99 as of the time of publication. This follows the company's receipt of a formal warning letter from the U.S. Food and Drug Administration (FDA) regarding its promotional content for the "compound semaglutide" product.
The FDA emphasized that the compound drug product itself has not been approved by the FDA and therefore cannot be equated with standard drugs that have undergone clinical trials and approval. The regulatory agency has required Hims & Hers to submit corrective measures within 15 working days, and failure to effectively address the related issues may result in legal sanctions, including product seizure and the issuance of injunctions
