** Shares of telehealth firm WW International WW.O, formerly known as WeightWatchers, fall 44.9% to 43 cents premarket

** Co late on Tuesday said it has filed for Chapter 11 bankruptcy protection to cut its debt

** GLP-1 drugs such as Novo Nordisk's NOVOb.CO Wegovy and Eli Lilly's LLY.N Zepbound hit demand for its traditional weight-loss programs

** Co said the reorganization plan will eliminate $1.15 billion in debt from its balance sheet

** Estimated assets and liabilities were in the range of $1 bln to $10 bln according to the Chapter 11 petition filed in Delaware bankruptcy court

** Up to last close, stock down 37.6% YTD

(Reporting by Sneha S K)

((Sneha.SK@thomsonreuters.com))