Analysis-Healthcare companies counter investor worries over Wegovy effect

© Reuters. FILE PHOTO: A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. REUTERS/Jim Vondruska/Illustration/File Photo

By contrast, the iShares U.S. Medical Devices exchange-traded fund has lost more than 22% in the last three months. Margaret Kaczor Andrew, a William Blair analyst covering medical technology companies, says she does not expect a meaningful effect on technologies like glucose monitors, which help manage diabetes. She pointed to the emergence of other drug classes like statins that had reduced cardiovascular disease but not decreased the need for heart devices.

"We expect that many of them will not stay on the drug for longer than a year or two, and at that time, will consider bariatric surgery," Myriam Curet, chief medical officer at Intuitive Surgical , said on the company's Oct. 19 earnings call."Overall, we'll see an increased interest in bariatric surgery, but that will get delayed in the short term."

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