Search This Blog

Friday, August 9, 2024

23andMe Cuts Back Drug Research, Moves to Weight Loss

 

  • Company to launch telehealth weight-loss program in August
  • First-quarter revenue of $40 million was well below estimates

23andMe Holding Co.’s strategy is shifting as the struggling DNA-testing firm shuts down its in-house drug development effort and gets into weight-loss, one of the hottest markets in health care.

The Silicon Valley firm plans to launch a telehealth membership program by the end of the month for people trying to shed pounds, it said in a release Thursday. Users will be able to get brand name or compounded forms of semaglutide, the active ingredient in the blockbuster drugs from Novo Nordisk A/S, it said.

https://www.bloomberg.com/news/articles/2024-08-08/23andme-s-quarterly-sales-miss-estimates-as-ceo-seeks-control

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.