GLP-1 drug demand rising, but not all packaged foods companies in the crosshairs

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GLP-1 drug demand rising, but not all packaged foods companies in the crosshairs

Investing.com -- As signs emerge that demand for GLP-1 drugs is stronger than expected, many are fearing the worst for packaged-food companies, but Bernstein believes that some companies are likely to fare better than others as patients on these weight-loss drugs shift appetite in favor of more protein-based foods.

While official data from IQVIA suggests only about 1.4% of U.S. adults are currently taking branded GLP-1 drugs like Ozempic and Wegovy, there are signs that demand is stronger than expected/ This discrepancy between the survey and IQVIA data point to a potentially larger market for compounded GLP-1 drugs than previously thought.

While the signs of increased demand are expected to dent appetite for packaged foods, Bernstein believes that some companies such as) from Market-Perform to Outperform, and its price target raised from $55 to $58 as evidence shows that GLP-1 users favor more protein rich foods and beverages.), however, was downgraded from Outperform to Market-Perform and its target price cut from $230 to $205 on worries volume recovery will struggle as GLP-1 demand appears to be on the up and up.

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JPMorgan says this new player in the GLP-1 market could rally 45%This GLP-1 drug could emerge as the next big treatment and rival key competitors.
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