FT News Briefing The weight-loss drug craze
Aug 9, 2023
Discover the latest buzz surrounding the skyrocketing popularity of weight-loss drugs originally intended for diabetes. These pharmaceuticals are projected to create a $100 billion market, drawing significant investor attention. Meanwhile, the UK government resists calls for stricter corporate transparency amid financial turbulence. The U.S. banking sector faces challenges after Moody's ratings downgrade, impacting stock performance. Plus, a surprising link emerges between weight-loss medication trends and fluctuations in the orange juice market.
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Weight Loss Drug Craze
- Weight loss drugs are booming, with Eli Lilly increasing its full-year guidance by $2 billion due to Mounjaro.
- Novo Nordisk's Wegovy showed a 20% reduction in cardiovascular events in a trial.
Drug Shortages and Celebrity Use
- High demand and shortages exist for Novo Nordisk's and Eli Lilly's weight loss drugs.
- Celebrities are using diabetes drugs like Ozempic for weight loss, fueling social media chatter and demand.
Side Effects and Safety Concerns
- Clinical studies haven't shown serious safety concerns for weight loss drugs, but some side effects exist.
- The EU raised concerns about potential suicide risks, though concrete evidence and company claims suggest safety.