This deal seems to be tipping the scales in Weight Watchers’ favor, as the parent stock was soaring Tuesday morning off a deal to acquire Sequence, a weight-loss drug prescriber.
Shares of WW International Inc. WW, +64.80%, the parent of Weight Watchers, soared on heavy volume Tuesday after the weight-management and wellness company said the deal to buy the telehealth company doing business as Sequence has been completed.
“Given the advancements in chronic weight management medications, entering into clinical interventions, for those who medically qualify, is a natural next step for WeightWatchers,” said WW Chief Executive Officer Sima Sistani. “Our goal is to provide sustainable, science-backed solutions to all weight health pathways, whether medications are part of an individual’s journey or not.”
After the stock closed at a seven-month high of $6.93 on the day the Sequence deal was announced, it had tumbled 40.5% through Monday. With Tuesday’s rally, it was still about 15% below where it had closed on March 7.
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