Topline
The Food and Drug Administration sent warning letters to dozens of drug companies this month, including popular telehealth firm Hims & Hers, demanding they correct “false or misleading claims” about some of their products, targeting the companies just days after President Donald Trump signed an order designed to clamp down on direct-to-consumer drug advertising.
The warning letters were sent to over 100 companies, taking aim at the “unlawful sale of unapproved and misbranded drugs” to consumers over the internet.
Hims & Hers was sent a letter regarding its compounded semaglutide products, which are popular diabetes and weight management drugs.
Shares of Hims & Hers dropped more than 6% on Tuesday afternoon, though the company’s stock is still up 11.7% this month.
Forbes has reached out to the FDA and Hims & Hers for comment.
This is a developing story. Check back for updates.