Thanksgiving is just a few days away, and Americans are preparing their appetites with Turkey Day recipes. Pharmaceutical companies have seen an explosion in the use of weight-loss drugs in recent months, including Novo Nordisk’s (NVO) Wigovy and Ozempic.
Yahoo Finance Live Host Rachel Akufo We analyze the numbers behind consumer sentiment towards GLP-1 drugs and their significant impact on industries such as food.
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video transcript
Rachel Akuffo: Well, Thanksgiving is just a few days away, and it’s one of America’s biggest eating days. But with the growing popularity of weight loss drugs, the holiday season will likely be even milder. Use of his GLP-1s, such as Ozempic and Wegovy, is skyrocketing, with hundreds of thousands of prescriptions written each month. Currently, this drug is usually prescribed to people who are obese or have diabetes. However, even without these conditions, nearly half of the people were interested in the drug. According to an AKFF poll.
Currently, due to the explosive growth of weight loss drugs, many food companies have begun to mention weight loss drugs in their earnings conferences. It’s not just companies that specialize in food. The medical industry is also seeing a ripple effect in the diseases that this drug can treat and even cure. Currently, this industry is a growing industry, with sales expected to reach approximately $100 billion by 2030. So, will this Thanksgiving be the canary in the coal mine to see how America’s diet is changing because of these weight loss drugs, or is it just a change? Lots of stuffing? we will see.
