Investors are scrambling to adjust, after the telehealth specialist Hims & Hers said it would stop selling an alternative to Novo Nordisk's Wegovy and Ozempic weight-loss drugs. Hims stock stood about 17% lower at under $42.

The FDA said weight-loss and diabetes drugs Wegovy and Ozempic are no longer on shortage list. The U.S. Food and Drug Administration said on Friday there was no longer a shortage of Novo Nordisk’s popular weight-loss and diabetes drugs,

The FDA’s decision will threaten the ability of compounding pharmacies to make far cheaper, unbranded versions of the injections over the next few months.