23andMe Shifts Focus to GLP-1 Telehealth Offering, Cuts Internal Drug Development Team

Transition from Drug Development:
23andMe is exiting its internal drug development program to focus on a new telehealth membership program aimed at weight loss using GLP-1 prescriptions.

Launch of Telehealth Program:
The company plans to launch this telehealth program by the end of August 2024.

Genetic Study:
23andMe is also launching a genetic study to explore the effectiveness and side effects of GLP-1 weight loss drugs.

Layoffs:
As part of this shift, 23andMe is laying off 30 employees from its therapeutics discovery unit.

Market Impact:
The move reflects a strategic shift towards leveraging telehealth and genetic insights for weight loss management.