Shares of companies that sell weight-loss supplements fell Friday on the FTC's plans to crack down on deceptive claims for such products.
The Federal Trade Commission said Friday that it plans to hold a press conference on Tuesday to announce a new initiative "against deceptive advertising of weight-loss products" made by national marketers of "fad weight loss products." The government agency did not name specific companies and gave no further details.
The threat of a changing regulatory environment sent shares of Herbalife Ltd., USANA Health Sciences Inc. and Nu Skin Enterprises Inc. down in an otherwise tepid day of trading.
Shares of Herbalife, which sells weight management and nutritional products, fell nearly 5 percent to $76.07 by early afternoon. Nutritional products maker USANA's shares fell 5 percent to $73.05. And shares of Nu Skin, which sells nutritional supplements and anti-aging beauty products, fell about 5 percent to $130.75.