Big Food vs. Big Pharma: Companies bet on snacking just as weight loss drugs boom
Publishing timestamp: 2023-10-01 08:00:01
Summary
The article discusses how food companies are making big bets on snacking, but the rise of obesity and diabetes drugs like Wegovy and Ozempic could pose a threat to their future sales growth. These drugs suppress appetites and could lead to a decrease in consumption of baked goods and salty snacks. However, some factors such as the high cost of the drugs and the likelihood that lower-income individuals who consume junk food won't be able to afford them may work in favor of snack sales. Food companies will have time to adjust to shifting consumer behavior, and there is a focus on developing healthier options and new formulations that mimic the taste of full-sugar and salt versions.
Sentiment: MIXED
Tickers: GIS, CVS, HSY, MS, SJM, TWNK, K, NOVO.B-DK, MDLZ, PEP,
Keywords: mondelez international inc, j m smucker co, morgan stanley, retail industry, united states, kellogg co, hershey co, business, health care industry, pepsico inc., business news, cvs health corp, breaking news: business, general mills inc, novo nordisk a/s, hostess brands inc, food and drink,
Source: https://www.cnbc.com/2023/10/01/kellanova-bets-on-snacking-as-ozempic-wegovy-take-off.html