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WeightWatchers announced on Tuesday that it will offer a compounded version of Novo Nordisk‘s popular weight-loss drug Wegovy as part of its weight-management programs, a move that sent its shares soaring nearly 47%.
Shares of WW International Inc (WW, Financial) soared by 43.09% today due to the company's strategic move to expand its clinical weight management services. This expansion includes the introduction of compounded semaglutide, which offers a cost-effective and accessible alternative to popular medications like Ozempic and Wegovy, particularly during the current supply shortages.
WW International (WW, Financial) experienced a significant stock price increase, soaring 20.7% to $1.40. Early trading saw the stock rise as much as 46.5%.
Shares of WW International (WW), better known as WeightWatchers, jumped nearly 25% Tuesday when the dieting services company announced it is offering a copycat version of blockbuster weight-loss drugs.
“With the addition of compounded semaglutide [GLP-1], we are expanding our offering to include a clinical weight management solution that is both accessible and affordable,” said Interim Chief Executive Tara Comonte in prepared remarks.
WeightWatchers said on Tuesday it is adding a compounded version of Novo Nordisk's obesity drug Wegovy to its weight-management programs.
Sima Sistani, who took up the CEO post at WW International two-and-a-half years ago, is out, according to the company.
WeightWatchers CEO Sima Sistani is leaving the company after two and a half years. During that time, the company has radically altered its business model to stay competitive in the Ozempic era.
Independent Board Member Tara Comonte Will Serve as Interim Chief Executive Officer Sima Sistani Will Step Down as CEO and Director
WW International, Inc. stock has lost almost 80% of its value since my previous article in March 2023, which I published soon after the company announced the Sequence acquisition. Expansion into clinical services poses risks of cannibalization and increased competition for WW International's core weight loss business. The strategic shift towards digital subscriptions and clinical services may limit WW International's potential for long-term competitive advantages and growth.