WeightWatchers shares are soaring after the company said it was getting into the prescription drug weight loss business with the acquisition of Sequence.
The telehealth operator can prescribe medications under brand names including Ozempic, Wegovy and Trulicity. WeightWatchers offers subscribers meal plans with the goal of losing excess weight. With the acquisition of Sequence, the company is tapping into a red-hot market for prescription drugs that address obesity, and broadening what it offers to customers.
Shares of WW International Inc. jumped more than 31% in morning trading.
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Written by: Editor