It’s throwing its weight around, but can Ozempic reshape our economy?

In the US, fast food and snack stocks have been hit on speculation weight-loss drugs will impact demand.Advertisement

Researchers and investment analysts are starting to try and forecast the long-term implications of Ozempic and similar products in a class of drugs commonly called glucagon-like peptide 1 agonists. These drugs have been used to treat type 2 diabetes, but have also been in headlines recently because of their impact on weight loss.

In September, Macquarie cited Ozempic-style drugs for the 26 per cent plunge in ResMed’s share price over the previous three months to $23.83. The stock was trading at about $22.65 this past week. Shares in Kellanova, the company that makes snacks such as Pringles, hit year-lows in the US this month. The group’s chief executive, Steve Cahillane, said the company was watching the popularity of Ozempic. “We’re by no means complacent,” he told Bloomberg.

And while Ozempic has captured the imagination of sharemarket analysts in recent months, there are several unknowns about the future of these types of products, particularly in the Australian context.

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