07:19 AM EDT, 10/03/2024 (MT Newswires) -- 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 drug makers 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 drug makers such as Novo Nordisk ( NVO ) and Eli Lilly ( LLY ) .

Price: 17.33, Change: -1.62, Percent Change: -8.55