Ozempic, Wegovy, and the Economy

By: Anneken Tappe · October 19, 2023 · Reading Time: 2 minutes

Carrying Weight

Ozempic and Wegovy may help patients lose weight. But the weight they carry in the economy is only increasing.

By 2030, some 48 million Americans will have shed a collective hundreds of millions of pounds thanks to these treatments, according to industry analysts. These projections have implications for both patients and the broader economy.

The Ozempic Effect

The popularity of Ozempic and Wegovy has already started to disrupt other treatment providers.

The producer of these drugs, pharmaceutical giant Novo Nordisk (NVO), recently stated semaglutide — the main ingredient in its weight-loss medications — could also help reduce kidney failure, according to a drug trial. This news sent the stocks of companies that produce kidney dialysis products, such as Fresenius Medical Care (FMS), plummeting.

Heavyweight Profits

Investors are rushing to figure out the impact of these drugs on the pharmaceutical industry and beyond.

Given Ozempic and Wegovy are appetite suppressants, some retailers, like Walmart (WMT), claim to already see an impact Beyond food, a slimmer American population might also lead to cost savings in the healthcare industry. Some have even estimated it could even help airlines save millions of dollars on jet fuel.

Investors who can effectively anticipate these changes could well see weighty profits.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Check it out

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

TLS 1.2 Encrypted
Equal Housing Lender