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Lars Fruergaard Jorgensen, the CEO of Ozempic and Wegovy maker Novo Nordisk, says that chief executives at meals firms are calling him for advice regarding the diabetes and weight loss drugs.
“A few CEOs from, say, meals firms have been calling me,” Jorgensen advised Bloomberg. “They’re scared about it.”
He didn’t disclose the title of the businesses.
Ozempic and Wegovy are a part of a brand new class of medicines referred to as GLP-1s that suppress a person’s urge for food. Demand for the drugs has skyrocketed within the final yr.
Novo Nordisk reported last week that its sales in 2023 jumped 31% to 232.3 billion Danish kroner ($33.8 billion) in contrast with 177 billion Danish kroner ($25 billion) in 2022. Bloomberg Intelligence forecasts the marketplace for these new weight reduction medicine, which additionally consists of Eli Lilly’s Zepbound, may hit $80 billion by 2030.
Wall Road analysts and different enterprise leaders are already looking at what this means for other industries.
A Morgan Stanley survey discovered that 77% of sufferers reported visiting quick meals eating places much less steadily.
Walmart US CEO John Furner stated the company is already noticing changes in consumer behavior from the drugs. He advised Bloomberg in October that compared to the final inhabitants customers are shopping for much less issues.
However, executives at Chipotle are hoping users of these drugs will be attracted to their healthier “wholesome” offerings.
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