Key Takeaways Hims & Hers shares gained Monday after the Food and Drug Administration said compounding pharmacies could continue to produce copycat weight-loss drugs while it reconsiders whether there is a shortage.

The Food and Drug Administration (FDA) said it will reconsider its decision to remove Eli Lilly’s blockbuster weight loss and diabetes drug from its official shortage list and allow compounding pharmacies to continue selling their own versions.

A group representing companies that made copycat versions of Eli Lilly & Co.’s weight-loss drugs sued the US Food and Drug Administration over the agency’s decision to remove Lilly’s medications from its shortage list.

Hims & Hers Health (NYSE:HIMS) is up ~10% in Monday morning trading following a recent lawsuit challenging the U.S. FDA's  decision to remove Eli Lilly's (NYSE:LLY) tirzepatide from a drug shortages list.