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Eli Lilly sues telehealth sites selling copycat Zepbound

The lawsuits target platforms selling compounded versions of name-brand weight-loss drugs even after the government declared a shortage of them was over.

J. Edward Moreno

Eli Lilly sued four telehealth platforms selling copycat versions of its blockbuster weight-loss drug Zepbound, a move that could foreshadow more legal actions against these kinds of companies.

In four separate lawsuits filed Wednesday, Lilly accused Mochi Health, Fella Health, Willow Health, and Henry Meds of continuing to sell knockoff Zepbound even after tirzepatide, the active ingredient in the drug, was taken off the Food and Drug Administration’s shortage list in December.

During a shortage, compounding pharmacies are able to sell exact copies of drugs to fill in gaps in supply. Outside of a shortage, compounding pharmacies can only make adjusted versions of patented drugs, such as a dose that the drugmaker doesn’t make or a version that removes ingredients the patient is allergic too.

Lilly says the telehealth platforms are taking advantage of that loophole to mass produce slightly adjusted versions of their drugs and telling patients they’re “personalized” or “tailored” for them. Mochi, Fella, Willow, and Henry did not immediately respond to requests for comment.

Notably absent from the suits is OrderlyMeds, which recently responded to a cease and desist letter from Lilly by saying meant "nothing."

The lawsuits could be a bad sign for Hims & Hers, which does not sell compounded versions of Lilly’s drugs but does sell semaglutide, the active ingredient in Novo Nordisk’s Ozempic and Wegovy.

Similar to the pharmacies sued by Lilly, Hims offers its users “personalized” versions of semaglutide. That ingredient was taken off the FDA’s shortage list in February, and the off-ramp for outsourcing pharmacies like those that Hims works with ends on May 22.

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Investors just made a mammoth $133 billion flip from cash to stocks, per Goldman Sachs

It’s a dash from cash, with investors taking billions in dry powder and pouring that money into the stock market.

“We saw strong net flows into global equity funds last week, led by stronger inflows into US and EM equity funds (+$71 billion vs $2 billion in the previous week) — more than 35x-ed the flows,” wrote Goldman Sachs’ Gail Hafif, Brian Garrett, and Lee Coppersmith. “While equity flows increase, money market fund assets fell by $62 billion. This is the 3rd largest level in our dataset (!).”

Goldman cash to stocks flows

The trio is bullish on US stocks, seeing “the case for contained selloffs coupled with relief rallies as the most likely path forward in the near term.”

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Moderna extends rally on positive cancer vaccine results

Moderna has more than doubled since it announced on Tuesday that its cancer vaccine reduced the risk of relapse or death for melanoma patients.

The five-year data from a Phase 2b trial showed that Moderna’s vaccine, when used with Merck’s blockbuster treatment Keytruda, reduced the risk of recurrence or death by 49% compared with Keytruda alone. The news gave investors hope that Moderna, which is best known for quickly developing a COVID-19 vaccine, may soon have another lucrative product in its portfolio.

Last week, Moderna said it expects to report total 2025 revenue of $1.9 billion, on the high end of its latest guidance of between $1.6 billion and $2 billion, amid better-than-expected vaccination rates. As demand for the COVID-19 vaccine, its sole revenue-generating product, has tanked, the company has aggressively cut costs and focused on expanding its portfolio.

The combination of positive announcements early in the year has made Moderna the second-best performer in the S&P 500 Index in 2026, behind newfound AI darling Sandisk.

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POET Technologies tumbles after announcing $150 million direct share offering

POET Technologies is tumbling in early trading Thursday after the optical communications company announced that it’s raising $150 million through the sale of about 20.7 million shares in a registered direct offering.

It’s an opportunity for management to cash in on the stock’s more than 30% rally year to date (as of Wednesday’s close).

“With a substantial base of cash, we plan to accelerate our pursuit of targeted acquisitions, add to our capabilities and talent base, vertically integrate our products with differentiated components, and expand operations to pursue revenue opportunities across the board, in order to bring long-term value to shareholders,” Executive Chairman and CEO Dr. Suresh Venkatesan said.

POET’s last offering came in late October, after which shares nearly halved in less than a month amid a broad drawdown in speculative, volatile stocks beloved by retail traders.

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Oracle gains amid report that the TikTok deal is poised to close this week

Oracle is gaining in premarket trading as Semafor reports that China and the US have signed off on the sale of TikTok’s US operations to a consortium in which the software giant is one of the three leading investors.

The transaction is poised to close this week, per the report, citing people familiar with the situation.

In mid-December, Oracle booked a huge gain after the CEO of TikTok owner ByteDance indicated that he’d signed contracts with Oracle and the other major investors leading this consortium, private equity firm Silver Lake and Abu Dhabi-backed tech investment company MGX.

If, as previous reporting suggested, the transaction values TikTok’s US operations at about $14 billion, that would mark a fairly low price tag for a lot of eyeballs and ad dollars. This pact will also afford Oracle’s cloud business an opportunity to deepen its preexisting relationship with TikTok.

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