Recent concerns among investors have arisen regarding the potential influence of the weight-loss drug Wegovy on beer sales. Novo Nordisk’s new treatment, Wegovy, has prompted questions about its implications for the brewing industry, leading to share sell-offs in companies that may be affected by reduced sales, as reported by Marketscreener.
This week, global brewing giants AB InBev and Carlsberg addressed these concerns, alleviating apprehensions among some investors. Surveys of current Wegovy users indicated anecdotal evidence that the drug not only curbed their appetite for food but also alcohol. Respondents reported reducing or entirely abstaining from alcohol consumption.
AB InBev’s CEO, Michel Doukeris, likened these concerns to those surrounding the potential impact of cannabis on the industry. Doukeris stated that although the data was being closely monitored, it was too limited to draw definitive conclusions, and forecasts actually suggested an increase in beer consumption.
Similarly, Carlsberg’s new CEO, Jacob Aarup-Andersen, reassured investors that there had been no “significant change” in beer consumption due to the use of weight-loss drugs, and retailers had not reported any noticeable impact to date. Aarup-Andersen emphasized that it was still early days, and the company remained relaxed about the situation.
Both CEOs highlighted the fact that their portfolios included low-calorie and low-carbohydrate beers. Additionally, their businesses extended to markets where obesity was less prevalent, which were not experiencing the same level of demand for weight-loss drugs as others.
