Weight-loss drugs hurt snack company shares

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Concerns about weight-loss drugs hurting sales are ‘overblown’ say Citi analysts but investors are worried

PepsiCo says the effect of weight loss drugs on sales has been “negligible” thus far, but shares are down 11 per cent this year. Photograph: Brandon Bell/Getty ImagesThe effect has been “negligible” thus far, PepsiCo chief executive Ramon LaGuarta told analysts last week. The company felt confident enough to hike its full-year forecast.shares are down 11 per cent this year and recently hit their lowest level since October 2022.

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