There’s never a dull day in the world of weight-loss medication. This week brought new restrictions on compounded GLP-1 medication, the cheaper, copycat versions of brand-name drugs that telehealth companies like Hims & Hers and Noom had been offering. Other developments include news that GLP-1 pills are on the way, and that a bankruptcy filing by weight-loss giant WeightWatchers is imminent. Let’s dive in.
The end of copycat weight-loss drugs
When the Food and Drug Administration declared that GLP-1 drugs were in short supply in 2022, it opened the door for compounding pharmacies to legally fill the gap and make copies of brand-name medications by altering some ingredients. Generic versions of Ozempic, Wegovy, and Mounjaro flooded into the market via med spas and online pharmacies. In February of this year, the FDA announced that the shortage had been resolved—and gave a deadline of April 22 for companies to stop selling copycat drugs. Many of these compounded medications were sold at a lower cost through telehealth companies like Hims & Hers, Noom, and WeightWatchers.
Putting a nail in the coffin, on Thursday a federal judge sided with the FDA in a lawsuit filed by a compounding industry group protesting the agency’s ruling that the shortage is over.
Sales of Mounjaro, Eli Lilly’s best-selling medication labeled to treat diabetes but also used for weight loss, jumped 60% to $3.53 billion in the fourth quarter of 2024; the company’s weight-loss drug Zepbound brought in $1.9 billion for that quarter. Ozempic maker Novo Nordisk, one of Europe’s most valuable companies, saw its revenue jump 25% last year to $40.6 billion, primarily from sales of its blockbuster diabetes and weight-loss drugs Ozempic and Wegovy.
There are still ways that companies can get around the compounding regulations and keep selling copycat versions of the drugs. Doctors or companies could ask compounding pharmacies to make the medication in different doses than what is offered for the brand-name versions. They could also ask for extra ingredients, like vitamins, to be added into the compound. Ultimately, it depends on how much the FDA enforces its regulation.
In February, Hims & Hers made the case for the “personalization” of weight-loss drugs via novel dosing and ingredients in an article on its website, which suggests that the company is exploring work-arounds to the compounding regulations. (Hims & Hers did not respond to Fast Company’s request for comment.)
“I’m not sure the FDA will tolerate these work-arounds,” says Dr. Angela Fitch, cofounder and chief medical officer of Knownwell, a weight-loss telemedicine company. She adds that some telemedicine services may reach deals with Eli Lilly and Novo Nordisk to provide brand-name drugs at a more accessible price, but the profits they made from manufacturing compounded medication and marking it up will be gone.
A weight-loss pill is on the way
GLP-1 medication currently comes in the form of a weekly injection, but this week Ozempic maker Novo Nordisk disclosed that earlier this year it had submitted a daily pill version of its weight-loss drug to the FDA for approval. Meanwhile, a new pill from Mounjaro maker Eli Lilly has shown promising results in treating both obesity and diabetes. Eli Lilly has said that the FDA is likely to approve the drug next year and that it is easier to manufacture than the injection and may also be cheaper.
WeightWatchers is filing for bankruptcy
Weight-loss company WeightWatchers, which started offering telemedicine consultations for members to access GLP-1 drugs alongside its famous points system, is preparing to file for bankruptcy within weeks, according to Bloomberg. The company has more than $1.4 billion in bonds and loans that will come due in 2028 and 2029. A bankruptcy filing would let it restructure its balance sheet.
The company has struggled in the era of GLP-1s. In October, to compete with the likes of Hims & Hers, Ro, and Noom, the company started offering affordable compounded GLP-1s through WeightWatchers Clinic. As rules tighten around manufacturing compounded medication, the company will be in a tough position.
At its peak in 2018, WeightWatchers was trading at $100 a share. On April 25, WW International stock price hovered around 15 cents.
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