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Many health and wellness stocks have faced challenges in recent years as GLP-1 weight-loss drugs like Ozempic and Wegovy upend the traditional diet market. Companies that once dominated the space ...
It comes as the weight loss company had been struggling under $1.6billion (£1.2billion) of debt after losing business to revolutionary weight loss drugs such as Ozempic and Wegovy.
Ozempic is an FDA-approved medication for people who have type 2 diabetes. It’s often prescribed “off-label” for weight loss — when a drug is prescribed for something it’s not approved for.