Telehealth firms rise as FDA to revisit Lilly's weight-loss drug shortage

WW International

14/10/2024 15:55

(Updates)
    ** Shares of telehealth firms WeightWatchers  WW.O  and Hims
& Hers Health  HIMS.N  rise 5.4% and 10.2%, respectively 
    ** US FDA on Friday said it will reconsider a decision to
bar drug compounders from selling their own versions of Eli
Lilly's  LLY.N  widely popular weight-loss and diabetes drugs 
    ** In response to a lawsuit brought by an industry group,
FDA said it would allow compounding facilities to keep providing
the drugs while it reviews whether there is a shortage of
tirzepatide
    ** Tirzepatide is the active ingredient in Lilly's Mounjaro
and Zepbound, and was removed from the FDA's shortage list in
early October 
    ** Both the telehealth firms, and 23 and Me's  ME.O  unit,
LemonAid Health, offer compounded versions of semaglutide, the
active ingredient in rival drug Wegovy made by Novo Nordisk
 NOVOb.CO  
    ** HIMS shares are "bound to see continued volatility ... on
headlines tied to the overall supply availability of all things
GLP-1s-related" - brokerage Leerink Partners 
        ** LLY shares up marginally at $934.21, stock has gained
~60% so far this year 
  
    ** As of last close, WW was down ~80%, while HIMS shares
have more than doubled in value YTD

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))