Federal health officials announced a policy shift: the FDA is working with manufacturers to remove or narrow longstanding black‑box warnings on menopausal hormone replacement therapies. Agency commentary and reporting cited new evidence that the cardiovascular and cancer risks previously used to justify the boxed warnings were overstated, prompting call‑outs from the agency and HHS leadership. FDA and HHS officials, including commissioner Marty Makary, described the change as driven by updated science and patient‑access considerations. The move is expected to increase prescribing flexibility for menopause symptom management and may influence utilization patterns for HRT products. Public health experts warned that labeling changes require careful communication to avoid misunderstanding about absolute benefits and remaining risks; industry investors flagged potential near‑term demand shifts.