Novo Nordisk A/S (NYSE: NVO) has declared that its GLP-1 drugs for chronic obesity, under the brands Ozempic and Wegovy, are no longer in short supply. This caused the United States Food and Drug Administration (FDA) to take semaglutide, the active ingredient in both, off the drug shortage list on February 21, 2025.
This announcement sent shockwaves through shares of Hims & Hers Health Inc. (NYSE: HIMS), triggering an immediate 25% sell-off on the news from $59.60 to $49.28 and continued to sink another 33% to $32.90 in the following days. Novo Nordisk fell 10% at the market open on March 10.
