WeightWatchers going into prescription weight loss business with telehealth provider acquisition – CBC

Purchasing company that offers access to diabetes drugs used to treat obesity

Mar 07, 2023

WeightWatchers’ stock soared on Tuesday after the company said it is getting into the prescription drug weight loss business with the acquisition of Sequence.

Sequence is a telehealth provider that offers users access to drugs used to treat diabetes and obesity under such brand names as Ozempic, Wegovy and Trulicity.

The drugs all work by the same mechanism: They trigger the release of insulin, block sugar production in the liver and suppress appetite.

WeightWatchers offers subscribers meal plans with the goal of losing excess weight. With the acquisition of Sequence, it is tapping into a red-hot market for prescription drugs that address obesity and broadening what it offers to customers.

“It is our responsibility, as the trusted leader in weight management, to support those interested in exploring if medications are right for them,” CEO Sima Sistani said in a prepared statement late Monday.

Read more: https://www.cbc.ca/news/business/weightwatchers-prescription-drugs-telehealth-1.6771155

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