Blockbuster drugs Zepbound and Mounjaro have come off the FDA's shortage list. Shares of Hims & Hers, which had capitalized on the pinch, are tumbling.

The FDA declared the end to shortages of Zepbound and Mounjaro. That could mean new restrictions on pharmacies making custom-made versions.

Eli Lilly’s juggernaut diabetes and obesity drugs Mounjaro and Zepbound have been erased from the FDA’s shortage list, freeing the company from competing with compounding pharmacies that have been producing copycat versions of the in-demand treatments.