Big diet companies are changing how they work because of two powerful medicines, Ozempic and Wegovy, which are causing a stir in the weight-loss world.
What Are Ozempic and Wegovy?
- Ozempic helps people with diabetes, and Wegovy is a drug to help people lose weight.
- Both of these medicines make it easier for people to lose weight and not feel so hungry.
What’s Happening in the Diet Industry?
- Big diet companies like Weight Watchers and Noom are changing what they do.
- Weight Watchers bought a company called Sequence that can give people prescriptions for weight-loss drugs.
- Noom, an app that helps people eat better and exercise more, is also starting a service where you can talk to a doctor online.
What Are People Saying?
- Some people are now thinking about taking these drugs instead of getting weight-loss surgery.
- This might mean fewer people going to restaurants, especially fast-food places like McDonald’s.
- These drugs might also help lower the number of people with type 2 diabetes and the need for machines to help with sleep problems.
But There’s a Catch
- Not everyone can afford these drugs because they can be very expensive, especially if you don’t have good health insurance.
What’s Happening to Diet Companies?
- Diet companies are not making as much money as they used to.
- For example, Medifast, which sells diet products, made 34.7% less money than the year before.
- Herbalife, a company that sells supplements, also made less money, with a 6% drop in revenue and over 30% less profit.
What Are CEOs Saying?
- The CEO of Herbalife said they are looking at the situation and will try to make the most of it.
- The chief financial officer of Intuitive Surgical, a company that makes medical tools for weight-loss surgery, said these new drugs are already hurting their business.