00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The U.S. Food and Drug Administration said it will take swift action against companies that
00:06mass-market illegal copycat drugs by claiming similarity to FDA-approved products,
00:12according to comments from FDA Commissioner Marty Makkari on Thursday.
00:16The remarks followed HIMSS and Hearst Health launching a $49 compounded version of Novo
00:20Nordisk's new WegaV weight loss pill. HIMSS compounded drug is not FDA-approved and has
00:26not undergone clinical trials. HIMSS shares fell 3.8% during regular trading and dropped
00:32another 10% after hours following Makkari's comments.
00:35The launch of its cheaper pill had already triggered a sell-off in Novo Nordisk and Eli Lilly shares.
00:41Novo said mass compounding was illegal and vowed legal action,
00:44while HIMSS said it had not compromised on safety or efficacy.
00:49For all things money, visit Benzinga.com.
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