Nestle looks for a way forward as weight-loss drugs take hold

Nestle is working on products designed to complement a new class of weight-loss drugs after revenue growth decelerated to the weakest pace in almost three years. A recent share decline in European food stocks has been partly blamed on the meteoric boom in GLP-1 diabetes treatments, namely Ozempic and Wegovy, which curb users appetites and help them to lose significant amounts of weight. Nestle chief executive Mark Schneider said the bulk of the company’s portfolio won’t be affected as Wegovy users will continue to drink bottled water as well as buy food for their pets. Even if demand for chocolate and frozen pizzas falls, Nestle is already working on a wide number of products that could serve as health aids during weight-loss treatments.