"The Decline of Wall Street's Concern Over Weight Loss Drug Craze Impact"
Originally Published 1 year ago — by Yahoo Finance
Wall Street's fears of weight loss drugs impacting medical device and food and beverage stocks have subsided, with analysts noting a lack of concern at recent conferences. The popularity of GLP-1 drugs like Novo Nordisk's Wegovy and Eli Lilly's Zepbound continues to grow, but concerns about their long-term impact on industries have eased. Medical device sales have actually surged due to increased interest in continuous glucose monitoring devices, while some pharmaceutical companies, like Sanofi, are not pursuing the trend. Food and beverage stocks, including McDonald's, have rebounded, and restaurant demand remains strong, with factors like side effects and limited insurance coverage for weight loss drugs mitigating potential negative impacts.