What Happened? Shares of telehealth company Hims & Hers Health (NYSE:HIMS) fell 24% in the afternoon session after U.S. Food and Drug Administration (FDA) reported that the shortage of weight-loss drugs such as Wegovy and Ozempic has ended.

Shares of Hims & Hers Health ( HIMS -25.79%) are falling on Friday. The company's stock lost 23.2% as of 1 p.m. ET and lost as much as 26.1% earlier in the day. The move comes as the S&P 500 lost 1% and the Nasdaq Composite lost 1.3%.

Hims & Hers Health acquired a peptide facility to strengthen its U.S. supply chain and meet demand for personalized treatments. Also, in another development, FDA resolves semaglutide injection shortage.