NVO - Weight-Loss Drugs Vs. Conagra Foods: Company Optimistic Amid Shifting Consumer Demands Influenced By Hunger Suppressing | Benzinga
At the Consumer Analyst Group of New York Conference in Boca Raton, Florida, Conagra Brands Inc (NYSE:CAG) Executive Tom McGough addressed concerns about potential sales declines for U.S. food companies due to the increased use of weight-loss drugs.
Contrary to apprehensions, McGough expressed optimism, stating that Conagra sees an “opportunity” to expand its market by offering frozen meals, meat snacks, and popcorn tailored to individuals using these medications.
Investors have expressed worry over the impact of weight-loss drugs, such as Novo Nordisk A/S’s (NYSE:NVO) Ozempic and Wegovy, on U.S. food companies, fearing a decline in sales as these drugs suppress appetite and induce feelings of fullness.
In response to this concern, Reuters highlighted that McGough reassured stakeholders that, if anything, Conagra envisions potential growth within its product portfolio.
McGough supported his optimistic outlook with data from market research firm Numerator, ...