WeightWatchers CEO's Surprising Shift: Embracing Weight Loss Drugs

WeightWatchers CEO, Sima Sistani, is betting the company's future on weight loss drugs like Wegovy and Ozempic, recognizing that they have upended the diet industry. Sistani made radical changes, including ending in-person workshops and closing storefronts, to focus on these medications. WeightWatchers also acquired a telehealth business to issue virtual prescriptions for weight loss drugs. Analysts believe these changes could generate $455 million in new revenue by 2025. While some longtime users feel betrayed by the shift away from in-person meetings, Sistani believes WeightWatchers can provide a safe and trusted source for these medications. The company's recent earnings report showed net income of $43.7 million for Q3 2023, compared to a net loss of $206 million in the same period last year.