--- title: "Hims & Hers, Eli Lilly, Novo Nordisk Face FDA Scrutiny: What It Means For Weight-Loss ETFs" description: "The FDA's recent enforcement against drug promotion has raised concerns for ETFs linked to weight-loss treatments, particularly affecting Eli Lilly, Novo Nordisk, and Hims & Hers. The agency issued wa" type: "news" locale: "en" url: "https://longbridge.com/en/news/257956929.md" published_at: "2025-09-18T15:51:04.000Z" --- # Hims & Hers, Eli Lilly, Novo Nordisk Face FDA Scrutiny: What It Means For Weight-Loss ETFs > The FDA's recent enforcement against drug promotion has raised concerns for ETFs linked to weight-loss treatments, particularly affecting Eli Lilly, Novo Nordisk, and Hims & Hers. The agency issued warning letters for exaggerating benefits and downplaying risks of GLP-1 medications. ETFs like Amplify Weight Loss Drug & Treatment ETF and Global X HealthTech ETF, which include these companies, may face performance pressures due to regulatory scrutiny. This situation underscores the volatility risks for sector-specific funds amid regulatory developments in the obesity drug market. The U.S. Food and Drug Administration’s recent enforcement action against drug promotion is sending ETFs with exposure to weight-loss treatment manufacturers into question. On Sept. 9, the agency sent warning letters to **Eli Lilly And Co** LLY, **Novo Nordisk A/S** NVO, and **Hims & Hers Health**, **Inc** HIMS for what it perceives to be exaggerating the advantages of their GLP-1 weight-loss medications and underestimating severe threats. *Check out the current price of HIMS stock here.* The FDA indicated Eli Lilly and Novo Nordisk officials discussed therapies such as Mounjaro, Zepbound and Wegovy during media appearances, including a 2024 Oprah Winfrey special, but did not properly disclose boxed warnings and safety concerns. Hims & Hers was charged with “false or misleading” marketing claims on its website about compounded semaglutide products, which regulators stressed are not FDA-approved. The three companies have 15 working days to reply. The news has drawn attention to the regulatory risks for ETFs focused on the weight-loss drug theme. The **Amplify Weight Loss Drug & Treatment ETF** THNR is invested in all three stocks, with Eli Lilly and Novo Nordisk two of its largest holdings and Hims & Hers as a smaller part. Any prolonged regulatory attention would be a drag on performance if sentiment around the GLP-1 drug space turns. The **Global X HealthTech ETF** HEAL, targeting digital and telehealth-service companies, also holds Hims & Hers. In the same vein, the **Invesco Dorsey Wright Healthcare Momentum ETF** PTH has exposure to Hims & Hers as part of other health care stocks that are momentum-based. Both funds might be indirectly pressured if regulatory issues reduce the popularity of obesity treatment based on telehealth. Beneath the warning, Eli Lilly and Novo Nordisk are still market leaders in the sector, and their 2025 share gains have lifted health care ETFs overall. The FDA’s increased monitoring, however, highlights headline-driven volatility risk, especially for thematic funds heavily exposed to weight-loss medication. For investors, the recent crackdown acts as a reminder that although ETFs provide diversification, sector-specific funds such as THNR, HEAL, and PTH are still vulnerable to regulatory news surrounding the obesity drug bubble. - **Novo Nordisk’s Wegovy Outperforms Eli Lilly’s Tirzepatide In Reducing Risk Of Heart Attack, Stroke, And Death: Study** *Photo by shisu\_ka via Shutterstock* ### Related Stocks - [LLY.US - Eli Lilly](https://longbridge.com/en/quote/LLY.US.md) - [HIMS.US - Hims & Hers Health](https://longbridge.com/en/quote/HIMS.US.md) - [NVO.US - Novo Nordisk AS](https://longbridge.com/en/quote/NVO.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | HLTH, ESIH, HLT: Give Your Portfolio a Lift with European Healthcare ETFs | Investors concerned about U.S. stock market volatility are advised to consider European healthcare ETFs for diversificat | [Link](https://longbridge.com/en/news/276278480.md) | | EU approves higher dose of Novo's Wegovy | The European Commission has approved a higher dose of Novo Nordisk's popular weight-loss drug Wegovy, the Danish drugmak | [Link](https://longbridge.com/en/news/276134250.md) | | Prediction-market ETFs may open the door to all sorts of Wall Street tomfoolery | Several asset managers have filed for ETFs linked to U.S. election prediction markets, including Bitwise and Roundhill I | [Link](https://longbridge.com/en/news/276473216.md) | | Hamilton ETFs Announces February 2026 Monthly & Upcoming Semi-Monthly Cash Distributions | Hamilton ETFs has announced its monthly and semi-monthly cash distributions for February 2026. 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