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Share prices for the company, which was renamed WW International in 2018, fell more than 27 percent in post-market trading following the announcement.
Weight loss companies face stiff competition from injectable drugs such as Ozempic, Wegovy and Mounjaro, whose popularity in recent years has skyrocketed around the world.
WeightWatchers suffered a loss of more than $88 million in 2023, according to a financial report published by the company this week. The loss was more than double the previous year’s loss of $35.8 million.
Meanwhile, weight-loss drug makers say they are racing to meet demand and spending heavily to increase manufacturing capacity.
The medications have proven effective in helping with obesity, diabetes, and even heart problems (although some patients have also reported side effects such as nausea, diarrhea, and heart palpitations). Social media and influencer-led promotions have also fueled interest in the drugs, although new marketing strategies to market them to plus-size influencers have sparked backlash.
Experts have also expressed concern about the medications, saying that while they may be helpful for those suffering from obesity and chronic conditions, they pose challenges for people with eating disorders who are not overweight and for those with body dysmorphia.
In December, Winfrey he told the people magazine that also uses weight-loss medications prescribed by his doctor as a “maintenance tool,” although he did not name the medication.
“The fact that there is a medically approved prescription to control my weight and stay healthier throughout my life seems like a relief, a redemption, a gift, and not something to hide from and be ridiculed again,” she said. “I am absolutely sick of shaming other people and particularly myself.”
In 2023, WeightWatchers Announced had acquired health company Sequence, noting that the program would offer its subscribers advice and access to prescription weight-loss medications. The company also launched WeightWatchers Clinic, which gives members access to doctors who can prescribe weight loss medications.
“Given advances in chronic weight management medications, initiating clinical interventions, for those who medically qualify, is a natural next step for WeightWatchers,” CEO Sima Sistani said in the company’s statement at the time. “Our goal is to provide sustainable, science-backed solutions for all weight health pathways, whether medications are part of an individual’s journey or not.”
Winfrey joined the board in 2015 and paid $43 million for a 10 percent stake, The Washington Post reported, noting that at the time, the company was struggling to retain subscribers as people turned to fitness apps. , diets and wearable devices.
When Winfrey joined WeightWatchers, she said she lost 40 pounds on the program. The star has long been vocal about his issues with his weight and appearance, speaking publicly about yo-yoing and fad diets.
His website notes that she has “fallen victim to almost every diet scam known to women.” In 2007, Winfrey was diagnosed with hypothyroidism, a condition in which the body produces too little thyroid hormone and has varying symptoms, including weight gain.
Winfrey said Wednesday that she would donate her shares in the company to the National Museum of African American History and Culture in Washington.
The WeightWatchers board of directors said it supported Winfrey’s decision and thanked her for her time at the company.