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Hims & Hers (HIMS) stock collapsed after confirming it will likely stop selling compounded weight-loss drugs. Despite strong revenue growth, analysts are concerned about the company's uncertain future without these products.
Competitors like pharmaceutical companies Novo Nordisk (NVO) and Eli Lilly (LLY) are seeing gains as the outlook for Hims & Hers remains shaky. The company is focusing on potential opportunities from upcoming patent expirations, though it faces a long road to capitalize on these changes.
Seana Smith and Brad Smith break down the details on Morning Brief.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
This post was written by Josh Lynch
Editor's note: The headline of this post was updated to more accurately reflect the story.