10:42 AM EDT, 10/03/2024 (MT Newswires) -- (Updates with recent stock movement in the first paragraph.)

Hims & Hers Health ( HIMS ) shares fell by over 13% in recent Thursday trading, 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: 16.42, Change: -2.53, Percent Change: -13.35