Oprah Winfrey has long condemned the use of diet pills and gummies as treatments for weight loss, but after a new WeightWatchers (WW) deal, the media icon will soon be linked to the expanding prescription drug weight loss market.
Winfrey is a long-time partner and board member with WW International, signing a deal to purchase 10% of the diet management company in 2015, with an option to buy another 5% of the firm. In 2019, Winfrey signed an extension to the original deal that allowed her to buy 4.3% more of WeightWatcher’s stock.
Now, with WeightWatchers $106 million purchase of Sequence, a telehealth services company, the company and Winfrey will edge into the prescription drug weight loss medication arena.
The Sequence telehealth platform connects physicians who can prescribe weight-loss medications for consumers. The company’s $99-per-month subscription services plan includes access to drugs like Ozempic, Wegovy, and Rybelsus, which, among other features, curbs blood sugar that can lead to obesity and diabetes.
Weight loss prescription medication drugs are in expansion mode, with analysts pegging the market’s value at $50 billion by 2023. Industry observers also say weight loss prescription drugs can reduce a patient’s weight by 15%-to-20%.
WeightWatchers is on board with prescription drugs as part of a more complex weight loss treatment program.
“As science advances rapidly, we know there is a significant opportunity to improve outcomes for those using medications,” WeightWatchers CEO Sima Sistani said in a statement. “Clinical interventions require better education, access, care management, community and the integration of a complementary lifestyle program for best results. It is our responsibility, as the trusted leader in weight management, to support those interested in exploring if medications are right for them.”
WeightWatchers stock rose by 15% to $5.81 per share immediately after the news of the Sequence purchase on March 6.
