WeightWatchers shares drop after Oprah Winfrey announces board departure
WeightWatchers is experiencing a significant downturn, with shares dropping over 25% following the announcement that Oprah Winfrey will be stepping down from the company’s board of directors. Since investing $43 million in the company and joining the board in 2015, Winfrey has been a prominent figure in Weight Watchers’ brand and marketing strategies.
“I look forward to continuing to advise and collaborate with WeightWatchers and CEO Sima Sistani in elevating the conversation around recognizing obesity as a chronic condition, working to reduce stigma, and advocating for health equity,” said Oprah Winfrey.
The news arrives months after Winfrey disclosed her use of weight loss drugs, describing them as “a maintenance tool.” In a move reflecting her ongoing philanthropic efforts, the former talk show host has announced her intention to donate all of her Weight Watchers stock to the National Museum of African American History and Culture.
Data shows Winfrey owned 1.13 million shares worth $6.34 million.
Congress reaches short-term deal to avoid government shutdown: The Morning Rundown, Feb. 29, 2024
Congressional leaders strike a deal to avoid a partial government shutdown before Friday night’s deadline. And Defense Secretary Lloyd Austin is set to face questions from Congress over keeping his health a secret. These stories and more highlight The Morning Rundown for Thursday, Feb. 29, 2024
Congress reaches short-term deal to avoid government shutdown
A looming partial government shutdown set for this weekend has been temporarily dodged, thanks to a bipartisan deal struck by leaders in both the House and Senate on Wednesday, Feb, 29. The agreement introduces two new deadlines for funding government agencies, ensuring operations continue without interruption for now.
Get up to speed on the stories leading the day every weekday morning. Get The Morning RundownTM newsletter straight to your inbox!
Under the terms of the deal, the 20% of government operations at risk of shutting down by Friday will now receive funding through March 8. This extension covers the Departments of Transportation, Veterans Affairs, and Agriculture. The remaining 80% of the government, which includes the State and Defense Departments, faces a March 22 deadline.
Congressional leaders emphasized the necessity of bipartisan cooperation in a joint statement, declaring, “We are in agreement that Congress must work in a bipartisan manner to fund our government.”
The House is slated to vote today on the temporary funding bill, with the Senate expected to follow suit shortly afterward.
Supreme Court to decide on Donald Trump’s claim of presidential immunity
The Supreme Court will review former President Donald Trump’s assertion of presidential immunity in response to federal charges of election interference. In a move to expedite the case, the Court announced it will hear arguments during the week of April 22, with an intention to issue a ruling before the end of its current term in June.
If Trump’s appeal fails, the trial may be delayed until deep into the election season, casting doubt on whether it will occur before November’s Election Day. Conversely, a victory in his appeal would result in the dismissal of the charges.
With the justices addressing this significant legal question, the trial concerning these allegations is currently paused. After the Supreme Court’s announcement, Trump echoed his argument on Truth Social, stating that without immunity, “a President will not be able to properly function, or make decisions, in the best interest of the United States of America.”
Trump faces three additional criminal cases, including one in New York state court related to hush money payments to a porn star, scheduled to start on March 25. He has pleaded not guilty in all cases, claiming they are politically motivated.
Illinois judge removes Donald Trump from primary ballot
Just weeks after the Supreme Court heard arguments in a Colorado case seeking to bar Donald Trump from running for president again, Illinois has moved to exclude the former president from its primary ballot. On Wednesday, Feb. 28, an Illinois judge ruled Trump ineligible based on the 14th Amendment’s “Insurrection Clause” and his actions related to January 6th.
A spokesperson for Trump’s campaign criticized the judge’s decision as “unconstitutional,” and the ruling is temporarily on hold, allowing time for an appeal.
Illinois is now the third state to attempt to remove Trump from the ballot, joining Colorado and Maine. Both states are awaiting the Supreme Court’s decision, which has put similar rulings on hold.
LLoyd Austin to face questions from Congress over secret hospitalization
Secretary of Defense Lloyd Austin will be questioned by Congress Thursday, Feb. 29, regarding the secrecy of his prostate cancer surgery and hospitalization. This session marks the first occasion for lawmakers to address Austin directly about his management of the situation.
Austin has expressed regret for not disclosing his condition to President Biden and others. Following scrutiny, the Pentagon released findings from an internal 30-day review earlier this week.
The review acknowledged that while there was “no ill intent” behind Austin’s decision to keep his condition private, it highlighted that the procedures for transferring authority could be enhanced.
Anheuser-Busch reaches tentative agreement with Teamsters Union
Anheuser-Busch, the company behind Budweiser, and the Teamsters Union have announced a tentative labor agreement, averting potential strikes at 12 U.S. plants. The union, representing about 5,000 workers, had set a deadline for reaching a deal by 11:59 p.m. Thursday.
Teamsters General President Sean M. O’Brien stated, “Teamsters make the beer, Teamsters make Anheuser-Busch successful, and our members deserve the best contract. That is what we fought for and won today.”
The agreement proposes an $8 per hour wage increase over the next five years, with an immediate $4 raise in the first year. Anheuser-Busch’s CEO Brendan Whitworth expressed being “incredibly pleased” with the arrangement.
Union members are scheduled to vote on ratifying the deal next week.
WeightWatchers shares drop after Oprah Winfrey announces board departure
Since investing $43 million in the company and joining the board in 2015, Winfrey has been a prominent figure in WeightWatchers’ brand and marketing strategies.
The news arrives months after Winfrey disclosed her use of weight loss drugs, describing them as “a maintenance tool.” In a move reflecting her ongoing philanthropic efforts, the former talk show host has announced her intention to donate all of her WeightWatchers stock to the National Museum of African American History and Culture.
Eli Lilly allows direct sales of weight loss drug Zepbound, an industry first
The pharmaceutical company Eli Lilly and Company’s new website “LillyDirect” is a one-stop shop to find a doctor or telehealth provider, with some prescriptions able to be filled online and sent straight to a consumer. Now, Eli Lilly’s weight loss drug can be mailed to patients — the first pharmaceutical company to allow direct sales of weight loss drugs.
Eli Lilly’s new direct-to-consumer service has raised concerns. The focus is on whether it’s a profit-driven tactic rather than a solution for improving accessibility for those who require the medication.
The weight loss drug is called Zepbound, and it is similar to drugs like Ozempic and Wegovy.
These drugs have spiked in popularity, leading to a $6 billion industry. Drugmakers expect to profit $100 billion by the year 2030, however, Eli Lilly CEO Dave Ricks said the new direct-to-consumer option isn’t about boosting sales.
“This is about patient success,” Ricks said. “Our sales will be the same whether we sell it to CVS or Walgreens or sell it on our website.”
Some observers are skeptical.
“They’re trying hard to make sure you can find a path to something they absolutely want to sell you,” New York University Head of Medical Ethics Art Caplan said. “That creates at least the appearance of conflict of interest.”
LillyDirect will also offer insulin drugs for people with diabetes as well as migraine medication.
Weight loss drug Wegovy can reduce heart attack risk, study says
The weight loss drug Wegovy has become wildly popular, and the health benefits go beyond just dropping pounds, according to new data released by the drugmaker. Results of the clinical trial released on Tuesday, Aug. 8, suggests the supplement, used for quickly losing weight, directly coincides with a lower risk of heart disease by as much as 20%.
The study, which has not been peer-reviewed, suggests people taking Wegovy have cut their risk of experiencing a heart attack or a stroke by one-fifth. That’s a higher reduction than what many health experts had originally predicted.
The clinical trials lasted more than five years and studied more than 17,000 patients who were overweight or obese with heart disease taking Wegovy or a placebo.
Now that the results are in, the Danish drugmaker Novo Nordisk wants to capitalize on the results by looking to add cardiovascular benefits to the drug’s prescribing label. If that happens, there’s a higher chance insurance companies would provide more coverage for the weight loss pills that typically cost more than $1,300 a month.
Ozempic, the Type 2 diabetes injection that has become a popular weight loss drug lowered cardiovascular risk by 26%, according to a clinical trial solely for diabetics. Ozempic has not been approved by the FDA as a weight loss drug.
While the Wegovy clinical trial points to promising results of lowering heart disease, the No. 1 killer in the U.S., there have also been health concerns posed by the government over taking the pills.
Straight Arrow News reported in July about an investigation into the potential link between the drug and stomach paralysis.