Health
WeightWatchers Sinks as Eli Lilly Launches Weight-Loss Drug Delivery
- Telehealth companies LifeMD, Hims & Hers Health also slide
- WW shares more than doubled in 2023 amid obesity-drug boom
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WW International Inc. plunged the most in more than two months Thursday after Eli Lilly and Co. launched a digital health-care platform to deliver weight-loss drugs, posing a threat to a key area of growth for the wellness company.
Shares in WW International, better known as WeightWatchers, tumbled 11% in the biggest one-day drop since Oct. 19. The decline follows a 11% slump on Wednesday after Barclays Plc gave WW its only sell-equivalent rating, saying the company was still in the early stages of its transition to a more digital-focused model.