NVO - WW buying telehealth provider Sequence; provides easier access to obesity drugs
2023-03-06 16:51:01 ET
- WW International ( NASDAQ: WW ) is buying telehealth provider Sequence, which focuses on providing treatment for weight loss, for $106M, The Wall Street Journal reported.
- Sequence's platform is designed to have customers have a consultation with a doctor, who will then determine whether prescribing a weight loss drug -- such as the popular GLP-1 receptor agonist class -- is appropriate as part of a treatment plan.
- As of February, Sequence had ~22K members.
- The deal is expected to close in Q2, the Journal reported.
- Currently, only two GLP-1s, Novo Nordisk's ( NVO ) Wegovy (semaglutide) and Saxenda (liraglutide), are approved for weight loss. However, Novo's ( NVO ) Ozempic (semaglutide) and Eli Lilly's Mounjaro (tirzepatide) -- both approved as diabetes medications -- are being used off-label for weight loss given the exceptionally high demand for GLP-1s.
- However, Lilly ( NYSE: LLY ) has stated that Mounjaro could win approval for a weight loss indication by the end of the year .
- Morgan Stanley recently said that cardiovascular outcomes data for Wegovy expected this summer could boost the fortunes of both Novo ( NVO ) and Lilly ( LLY ).
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WW buying telehealth provider Sequence; provides easier access to obesity drugs