Jim Cramer Warns Weight Loss Drugs Ozempic, Wegovy And Others Could Impact Food Stocks: 'That Day Will Come'
Portfolio Pulse from Benzinga Neuro
Jim Cramer, host of CNBC's 'Mad Money,' warned investors about the potential negative impact of weight loss drugs like Ozempic and Wegovy on the food and beverage industry. He advised caution with food and beverage stocks, suggesting that the popularity of GLP-1s drugs could lead to a significant industry decline. Cramer also noted other factors such as reduced consumer disposable income and a shift towards cannabis products could be affecting sales, with companies like PepsiCo Inc (NASDAQ:PEP) already seeing a decline. Eli Lilly and Co (NYSE:LLY) is mentioned as expanding market share with drugs like Tirzepatide.
February 13, 2024 | 6:46 am
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PepsiCo Inc may face challenges due to the popularity of weight loss drugs and other factors affecting consumer behavior, as highlighted by Jim Cramer.
Cramer's warning about the impact of weight loss drugs and other factors such as reduced disposable income and a shift towards cannabis could lead to a decline in sales for food and beverage companies, including PepsiCo.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Eli Lilly and Co's market share could potentially increase due to the growing popularity of their weight loss drug Tirzepatide, despite broader concerns in the food and beverage sector.
While the food and beverage industry faces potential declines due to weight loss drugs, pharmaceutical companies like Eli Lilly could see an increase in market share due to the popularity of their products like Tirzepatide.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70