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.

Novo Nordisk shares rallied on Tuesday as a maker of a weight-loss drug alternative confirmed it won’t be selling it for much longer.

Hims & Hers said on Monday that it may no longer be able to sell compounded versions of the weight-loss drug made by Novo Nordisk because its pathway to do so closed when the U.S. FDA declared Friday that the drug's shortage was over.

Few big pharma stocks have been bigger winners over the last three years than Eli Lilly and Novo Nordisk. Lilly now ranks as the largest drugmaker in the world, with a market cap of $844 billion, after its shares skyrocketed more than 270%. Novo Nordisk stock is up around 75% despite a pullback in recent months.

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,

Hims & Hers Health reported fourth-quarter results on Monday that beat analysts' expectations, but the stock sank in extended trading.

The shortage of Novo Nordisk’s (NVO) blockbuster weight loss drugs has been resolved, according to the U.S. Food and Drug Administration

After the FDA removed semaglutide injection products from a shortage list, compounders like Hims have 60-90 days to stop making copies.

The Food & Drug Administration announced last week that the Ozempic and Wegovy shortage for Novo Nordisk's (NYSE:NVO) was over. It said the Danish pharmaceutical had sufficient supply of its semaglutide therapies to meet current and future,