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How Ozempic could change the economy as we know it
Article

How Ozempic could change the economy as we know it

Cork Gaines and Allie Kelly
Business Insider UK, 2024
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This concise article explains how the weight-loss benefits of drugs such as Ozempic and Wegovy could transform the American economy across numerous dimensions. From reduced consumer spending on items such as snacks and medicines to cuts in company expenses for jet fuel and worker sick days, the effects will spread across the economy. Reporters Cork Gaines and Allie Kelly offer a useful overview of what these medications could mean for greater labor productivity and higher GDP growth.

Summary

The rising consumption of weight-loss drugs could benefit companies in unique ways.

Ozempic is the brand name for a drug, semaglutide or GLP-1, used to treat diabetes. When research proved it could help patients lose weight because it lowers appetite, its manufacturer received approval to offer it as Wegovy for weight loss.

Almost half of Americans are obese, so these weight-loss drugs could be a game changer for the individuals who use them and for the businesses that make them. The market for all weight-loss medicines could be as high as $1.7 trillion annually; in contrast, the 2022 market for pain medications...

About the Authors

Cork Gaines and Allie Kelly are journalists with Business Insider.

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