WeightWatchers rises as Novo Nordisk obesity drug tops expectations

WW International

08/08/2023 13:44

** Shares of WW International  WW.O , also known as 
WeightWatchers, up 6% at $8.47, getting a boost premarket after
encouraging news on Novo Nordisk's  NOVOb.CO  obesity drug
    ** Danish drugmaker on Tues said Wegovy cut risk of heart
disease by 20%, exceeding expectations from key late-stage trial
    ** "Success likely fuels pressure for improved payer
coverage, with Medicare inclusion perhaps 2025E", Jefferies
wrote in research note
    ** WeightWatchers in Mar announced acquisition of
subscription telehealth platform Sequence to enter obesity drug
prescription business
    ** Through Mon close, WW shares have more than doubled since
the Sequence buy was announced. Stock last month traded as high
as $12.13, highest since Feb 2022

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-646-279-6380))