The U.S. Food and Drugs Administration Commissioner Martin A Makary announced the agency’s intent to restrict the ingredients used by Hims as alternatives to FDA-approved drugs.
Shares of Hims & Hers (HIMS) plummeted 13% after-hours on Friday after HHS General Counsel Mike Stuart referred the company to the Department of Justice for investigation over potential violations of laws aimed at ensuring safety of drugs.
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The U.S. Food and Drugs Administration (FDA) Commissioner Martin A Makary also announced the agency’s intent to restrict the ingredients used by Hims as alternatives to FDA-approved drugs.
The probe comes on the heels of the company launching a compounded version of Novo Nordisk’s (NVO) obesity pill called Wegovy on Thursday.
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