The continued shortage of weight loss drug Zepbound in the USA is expected to end officially in the next few days.
Chief executive officer David Ricks of Eli Lilly and Co (LLY.US) stated in an interview on Thursday that the popular weight loss drug Zepbound is expected to end its continued shortage in the USA in the next few days as well.
Ricks stated that the shortage of this injectable GLP-1 product will end "soon". He stated: "In fact, I think it's possible to solve the problem of shortage today or tomorrow."
Several weight loss drugs produced by Lilly and its competitor Novo-Nordisk (NVO.US) have been in short supply for months in the USA, leading consumers to begin looking for other unregulated compound formulations.
It is understood that the US Food and Drug Administration (FDA) allows such drugs to be made in short supply to help patients obtain necessary treatment. However, the FDA does not approve these compound formulations or regulate them in the same way as traditional prescription drugs.
As a result of the news, Hims & Hers Health (HIMS.US), which recently launched a compound weight loss drug, plummeted 13% on Thursday.
Eli Lilly and Co rose 3.5% on Thursday. Despite recent pressure on the stock, it has risen 43% this year.