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A new class of weight loss/obesity drugs called semaglutides, a diabetes drug that also has weight loss effects, could be responsible for transforming the economy in many sectors, analysts say. Ozempic is one of the major brand names, and works by mimicking a naturally occurring hormone. As those hormone levels rise, the molecules go to your brain, telling it you're full. It also slows digestion by increasing the time it takes for food to leave the body. This is similar to the effect of bariatric surgery.
https://www.businessinsider.com/semaglutide-wegovy-ozempic-weight-loss-healthcare-airlines-economy-productivity-2023-11
Insurance companies haven't been lining up to cover the drugs, which costs somewhere between $900 and $1200 per month. Medicare does not cover them at all.
Thoughts?
https://www.businessinsider.com/semaglutide-wegovy-ozempic-weight-loss-healthcare-airlines-economy-productivity-2023-11
The effects could be much broader than food and healthcare. As Josh Barro recently wrote in his economics and business newsletter "Very Serious," workers could be more productive because they live longer, healthier, and happier lives.
"Lower disease burden will mean fewer sick days and higher labor productivity," Barro projects. "And there will be huge gains in personal happiness: well over a hundred million Americans who have been struggling all their lives to control their weight will be finally succeeding at it, and in a way that does not involve a great deal of mental effort or perceived sacrifice."
This could increase people's self-esteem, Barro posits, and could allow people to redirect energy and resources from dieting to other activities as well as change their consumption. Additionally, employee productivity could increase as Americans see the long-term benefits of weight loss and stay in the workforce longer.
Radical weight loss could change what people buy and affect companies' bottom lines
Some businesses have already seen changes in consumer behavior due to GLP-1 drugs, which clinical trials have shown could help patients lose an average of 15% of their body weight over 68 weeks.
An August survey by Morgan Stanley of 300 people using GLP-1 drugs for weight loss found that 77% of respondents reported visiting fast-food restaurants "less frequently," while 61% and 59% said the same about casual dining restaurants and coffee shops, respectively.
Meanwhile, GLP-1s could indirectly help other businesses, like airlines. A Jefferies Financial analyst used data from United Airlines and calculated that the company could save 27.6 million gallons of fuel per year, at a cost of $80 million, if the average passenger weighed 10 pounds less.
Insurance companies haven't been lining up to cover the drugs, which costs somewhere between $900 and $1200 per month. Medicare does not cover them at all.
Thoughts?