Hold tight to your free weights — the Ozempic revolution is coming to a gym near you.
The runaway success of “GLP-1” weight loss and diabetes drugs, which also include Wegovy and Zepbound, is hard to overstate. Sales are expected to approach $50bn this year, making them the top-selling class of drugs worldwide. That is despite global shortages, high prices and the fact that the drugs are largely available only in injectable form so far. Sales are expected to more than double to $130bn by 2030 and could soar higher if the makers win permission to sell them as a preventive tool.
For pharma groups Novo Nordisk and Eli Lilly, soon to be joined by others, this is fabulous news. For others, it is likely to be really bad. Diet company WeightWatchers recently changed chief executives as it struggles to adjust, and soft drink, beer and snack company shares have been on a wild ride as investors try to figure out who will be hurt the most when consumers taking the drugs eat healthier food and fewer calories overall.