Compounding pharmacies producing cheaper semaglutide products have been given notice they will soon have to stop, as the drug is no longer on the FDA shortage list.

Ozempic and Wegovy, the popular GLP-1 drugs for diabetes and weight loss, are no longer in short supply, the FDA declared Friday. Why it matters: That's good news for Novo Nordisk (whose stock rose 5% Friday) and potentially bad news for Hims & Hers (which fell 26%).

Ozempic and Wegovy, the widely popular forms of semaglutide sold to treat diabetes and obesity, have officially been removed from the Food and Drug Administration’s (FDA) drug shortage list