Drug compounders on Monday sued the U.S. Food and Drug Administration over its decision last week to remove Novo Nordisk's weight loss and diabetes drugs Wegovy and Ozempic from its shortage list, a move that will sharply curtail the compounders' ability to sell cheaper versions of the drugs.

Ozempic and Wegovy, the popular GLP-1 drugs for diabetes and weight loss, are no longer in short supply, the FDA declared Friday. Why it matters: That's good news for Novo Nordisk (whose stock rose 5% Friday) and potentially bad news for Hims & Hers (which fell 26%).

Compounding pharmacies producing cheaper semaglutide products have been given notice they will soon have to stop, as the drug is no longer on the FDA shortage list.