How weight loss drugs could have chain reaction in 'food ecosystem'
10/10/2023 04:18
Weight loss drugs, such as Novo Nordisk's (NVO) Ozempic and Wegovy, continue to grow in popularity. With many brand and retailer CEOs signaling the hit to snack food sales, how will these drugs impact the packaged food industry? Morgan Stanley Equity Research Analyst Pam Kaufman joins Yahoo Finance Live to discuss. “We see long-term implications across the food ecosystem from the growing adoption of GLP-1 anti-obesity drugs,” Kaufman says, citing implications for packaged foods, restaurants, beverages, and food retail. “Our biopharma analysts expect drug use to grow fivefold over the next 12 years and project that about seven percent of the population is going to be on the drugs by 2023,” Kaufman notes. As these drugs impact people’s appetites, “they will have an impact on long-term demand for food consumption." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Weight loss drugs, such as Novo Nordisk's (NVO) Ozempic and Wegovy, continue to grow in popularity. With many brand and retailer CEOs signaling the hit to snack food sales, how will these drugs impact the packaged food industry? Morgan Stanley Equity Research Analyst Pam Kaufman joins Yahoo Finance Live to discuss.
“We see long-term implications across the food ecosystem from the growing adoption of GLP-1 anti-obesity drugs,” Kaufman says, citing implications for packaged foods, restaurants, beverages, and food retail.
“Our biopharma analysts expect drug use to grow fivefold over the next 12 years and project that about seven percent of the population is going to be on the drugs by 2023,” Kaufman notes. As these drugs impact people’s appetites, “they will have an impact on long-term demand for food consumption."
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.