Walmart Reports 'Slight Pullback' In Food Demand As 'Miracle' Weight-Loss Drug Ozempic Gains Popularity
Portfolio Pulse from Benzinga Neuro
Walmart Inc. has reported a 'slight pullback' in food demand due to the popularity of appetite-suppressing medications such as Ozempic and Wegovy, manufactured by Novo Nordisk A/S. The company is analyzing sales trends using anonymized shopper data to evaluate purchase changes amongst individuals using these drugs. Walmart sells GLP-1 drugs, including Ozempic, in its pharmacies and reported increased revenue from these drugs in August.
October 05, 2023 | 6:04 am
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Walmart has reported decreased food demand due to the popularity of weight-loss drugs Ozempic and Wegovy. The company sells these drugs in its pharmacies and reported increased revenue from them in August.
While Walmart has reported a decrease in food demand, it is also benefiting from the sale of these weight-loss drugs in its pharmacies. The overall impact on the company's stock is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Novo Nordisk A/S manufactures the appetite-suppressing medications Ozempic and Wegovy, which are becoming popular for weight loss globally.
The popularity of Novo Nordisk's weight-loss drugs is likely to have a positive impact on the company's stock in the short term, as it indicates strong demand for these products.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100