12:23 PM EDT, 10/03/2024 (MT Newswires) -- (Corrects Novo Nordisk's ticker symbol in the last paragraph.)

Hims & Hers Health ( HIMS ) shares fell by nearly 9% in Thursday's premarket activity a day after the US Food and Drug Administration said that a shortage of tirzepatide injection medication has been resolved.

The FDA said the weight-loss drug has been in short supply since 2022 due to increased demand.

Hims & Hers and other generic drugmakers are allowed to sell versions of FDA-approved drugs when they are in shortage. With the shortage ending, that permission lapses, leaving the field to GLP-1 drugmakers such as Novo Nordisk ( NVO ) and Eli Lilly ( LLY ) .

Price: 16.90, Change: -2.06, Percent Change: -10.84