Reshape Lifesciences Inc. (NASDAQ: RSLS) stock declined by 1.67% at the last close whereas the RSLS stock price fell by 5.11% in the pre-market trading session. ReShape Lifesciences is America’s leading weight-loss and metabolic-health-solutions firm, with a comprehensive portfolio of tried-and-true products and services for managing and treating obesity and metabolic illness. The FDA-approved Lap-Band Program is a substitute to more invasive surgical stapling treatments such as gastric bypass or sleeve gastrectomy for the long-term management of obesity.
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What is happening?
The Lap-Band production shift from Apollo Endosurgery to a Massachusetts-based manufacturer has been completed, according to ReShape Lifesciences. This move is expected to allow ReShape Lifesciences to save costs, increase profits, and gain direct control over the production process.
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The Lap-Band, currently made by ReShape Lifesciences, is the only FDA-approved laparoscopic weight-loss device in the United States that is expressly intended for those with a BMI of 30 or above. Since 1993, the operation has been conducted over one million times globally, and most insurance companies cover qualified patients.The Lap-Band has been proved to be the safest bariatric treatment on the market, with 20 years of clinical data showing lower complication and death rates than other surgical weight-loss procedures.
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Bart Bandy, President, and Chief Executive Officer at ReShape Lifesciences stated,
Moving Lap-Band production under their direct supervision allows them to help users control the manufacturing process, resulting in substantial cost savings, increased scale, and increased efficiency. As they all recover from the previous pandemic, Reshape Lifesciences is happy to offer goods that can assist a rising population of individuals with weight-loss requirements while also supporting the creation of new manufacturing and logistical employment in the US.