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WeightWatchers plans to launch a compounded version of Novo Nordisk's weight-loss medication. This new offering aims to enhance the weight management options available to its users. By introducing this compounded drug, WeightWatchers seeks to provide an alternative solution for individuals looking to achieve their weight loss goals effectively. Further details about the product and its benefits are anticipated as the launch date approaches.
WeightWatchers (WW.O) announced on Tuesday that it will offer a compounded version of Novo Nordisk's (NOVOb.CO) popular obesity medication, Wegovy, as part of its weight-management programs. This news propelled its shares nearly 47% higher, reaching a closing high not seen in over two months.
The surging demand for weight-loss medications like Wegovy and Eli Lilly's (LLY.N) Zepbound, which have been shown to help patients lose up to 20% of their body weight on average, has resulted in shortages. These shortages have enabled drug compounders to manufacture alternatives under U.S. regulations.
Numerous telehealth companies, such as Noom and Hims & Hers Health (HIMS.N), are now providing compounded versions of semaglutide, the active ingredient in Novo's Wegovy and its diabetes medication Ozempic, as patients seek alternatives due to the shortages. Drug compounding involves combining or altering drug ingredients to create customized medications for individual patient needs, as defined by the U.S. Food and Drug Administration.
WeightWatchers, also known as WW International, indicated that the new compounded offering will start at $129. "With the ongoing shortages of branded medications like Ozempic and Wegovy, WeightWatchers is dedicated to ensuring that our members have access to effective alternatives," CEO Tara Comonte stated.
The company's stock has seen a dramatic decline, dropping from over $100 in 2018 to below $1 in August 2024, resulting in an 85% loss in value this year due to revenue declines, liquidity issues, and Oprah Winfrey's exit from its board.
The Outsourcing Facilities Association, a drug compounding industry group, filed a lawsuit against the FDA on Monday regarding its recent decision to remove Eli Lilly's blockbuster weight-loss and diabetes medications from its list of drugs in short supply. Novo's Wegovy and Ozempic remain on the FDA's shortage list. The compounding group argued that the FDA took tirzepatide, the key ingredient in Lilly's Mounjaro and Zepbound, off the shortage list despite its continued scarcity.
In August, Lilly announced it had started selling vials of Zepbound at a price of $399 for a month's supply through its direct-to-consumer website.
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Source: Reuters
