Mangoceuticals surges after co says it will offer its version of GLP-1 drugs

Mangoceuticals

21/05/2024 15:30

** Shares of telehealth company Mangoceuticals  MGRX.O  more
than double to 60 cents
    ** Stock hits more than 5-month high   
    ** MGRX says it plans to introduce its own oral versions of
popular GLP-1 drugs like Novo Nordisk's  NOVOb.CO  Ozempic and
Wegovy and Eli Lilly's  LLY.N  Mounjaro and Zepbound
    ** GLP-1 agonists mimic the activity of a hormone that slows
digestion and helps people feel full for longer    
    ** Co says it will offer its own brands called "Slim" and
"Trim" as oral formulations of semaglutide (Wegovy) and
tirzepatide (Zepbound), respectively
     ** MGRX expects to make the products available on its
telemedicine platform in the beginning of Q3
     ** "Slim" and "Trim" would be priced at $299/month and
$399/month, respectively -MGRX
     ** The U.S. FDA had raised concerns about the prevalence of
compounded and fake versions of popular new weight loss drugs
online
    ** Including session's gains, stock more than doubled YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))