Ozempic Is Spoiling the Food Industry’s Bottomless Brunch
Investors fear the rise of weight-loss drugs eating into their profits. But companies from Nestle to PepsiCo aren’t panicking yet.
The original bottomless brunch.
Source: Bloomberg
Jimmy Kimmel propelled weight-loss drugs into our popular consciousness in March, when he quipped at the Oscars: “Everybody looks so great. When I look around this room I can’t help but wonder: Is Ozempic right for me?”
It’s hard to say. But Novo Nordisk A/S’s GLP-1 Wegovy and diabetes counterpart Ozempic, as well as other appetite-suppressing medications, don’t look so right for the global food industry. Earlier this month, the head of Walmart Inc.’s US operation, John Furner, told Bloomberg News that people taking them were eating less. “We do see a slight pullback in overall basket,” he said. “Just less units, slightly less calories.”