Stock sold off last week after Walmart said Wegovy and Ozempic were leading customers to buy fewer groceries and cut back on calories
The new class of weight-loss drugs like Ozempic and Wegovy are having a negligible impact on PepsiCo Inc.’s snacks and beverages business, but the trend of healthier eating is causing customers to seek smaller packages and to consume less sugar and salt.
That allows for greater convenience, variety and portion control, he said, and the company is continuing its push toward healthier snacking and beverage options, including zero-sugar beverages and nutritious convenience foods with lower sodium content. Walmart’s U.S. chief executive, John Furner, told Bloomberg in an interview that the company can track which of its customers are taking the drugs and can see that they are causing a “slight pullback in overall basket” and “less units, slightly less calories.”
Read now: As Ozempic/Wegovy frenzy continues, Morgan Stanley lifts forecasts for weight-loss drugs to $77 billion
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