WeightWatchers adds compounded version of Novo's obesity drug to weight-loss program (updated)

WW International

08/10/2024 14:38

(Adds share movement in paragraph 1, details and background
throughout)
       Oct 8 (Reuters) - WeightWatchers  WW.O  said on Tuesday
it would offer compounded form of Novo Nordisk's popular obesity
drug Wegovy as part of its weight-management programs, sending
its shares up 13% in early trading.
    Soaring demand for weight-loss drugs such as Wegovy and Eli
Lilly's  LLY.N  Zepbound, shown to help patients lose as much as
20% of weight on average, has led to their shortages that
allowed compounders to produce them under U.S. regulations.
    Semaglutide, the key ingredient in Wegovy and Novo's
diabetes drug Ozempic, is currently on the U.S. Food and Drug
Administration's shortage list. Lilly's drug, however, has been
removed from the list.
    Over the last six months, roughly 45% of WeightWatchers
Clinic members eligible for and prescribed a GLP-1 by their
clinician have been denied insurance coverage after three prior
authorization requests, the company said.
    WeightWatchers had acquired subscription telehealth platform
Sequence in 2023, which allowed the weight-loss program operator
to offer prescription obesity drugs.

 (Reporting by Puyaan Singh in Bengaluru; Editing by Shilpi
Majumdar)
 ((Puyaan.Singh@thomsonreuters.com))