Hims stock dropped sharply Friday after the U.S. Food and Drug Administration said the shortage of widely-used weight-loss and diabetes drugs has been resolved. The FDA website indicated that the shortage of Novo Nordisk's Ozempic and Wegovy has ended.

Key Takeaways Hims & Hers Health shares swooned after the Food & Drug Administration said the active ingredient in Ozempic and Wegovy is no longer in short supply.The company makes compounded versions of weight-loss drugs under an FDA rule that applies when the originals are difficult to obtain.