Alarm bells are ringing on Wall Street about the toll of the diabetes drug, which is also used to treat weight loss and has flattened CSL’s valuation.
Walmart’s comments about GLP-1 drugs and their effect on shoppers stirred brokers.Ozempic, the wonder drug used to treat diabetes that has become a global phenomenon as a weight-loss treatment, is challenging the blue-chip status of some of the ASX’s best known companies as short sellers bet the blockbuster drug and its equivalents will wreak further havoc on market valuations.
“In many ways this theme is a short seller’s dream,” said DNR Capital analyst Chris Tynan. “You can extrapolate the impact of a successful fat drug into so many consumer angles. This hasn’t really hit the mainstream retail investor in Australia yet but in the US it’s making real waves, and institutional shareholders in Australia are taking notice.
Dr Allen described their “Swiss Army knife” scope, given the implications for 240 different comorbidities that are associated with obesity from arthritis to heart disease. “While it’s still too early to determine any substantial changes to consumer behaviour in Australia as a result of appetite-suppressing drugs, we have been monitoring this trend in other markets – particularly the US – closely,” he said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CSL boss Paul McKenzie insists Ozempic won’t slim growthCSL boss Paul McKenzie finds himself in a position his predecessors haven’t faced for years: defending the blue chip’s growth prospects, including from the threat of new obesity drugs.
Read more »
ASX 200 LIVE: ASX slips; Fletcher plunges 9pc; gold stocks jumpShares slip; SkyCity CEO and Qantas Loyalty chief resign; Liontown on halt; Magellan to convert Global Fund to open-ended; Gregg named Westpac chairman; Treasury launches 2054 bond. Follow updates here.
Read more »
ASX 200 LIVE: ASX to fall, RBA in focus this week, volatility in spotlightAustralian shares are set to open lower with geopolitics risks high, as reflected in oil and gold prices. US reporting season gathers pace. Follow updates here.
Read more »
ASX 200 LIVE: ASX to fall; Gregg to succeed McFarlane as Westpac chairmanShares are set to open lower with geopolitics risks high; SkyCity CEO and Qantas Loyalty chief resign; Gregg to succeed McFarlane as Westpac chairman; US reporting season gathers pace. Follow updates here.
Read more »
ASX 200 LIVE: ASX to fall; Gregg to succeed McFarlane as Westpac chairmanShares are set to open lower with geopolitics risks high; SkyCity CEO and Qantas Loyalty chief resign; Gregg to succeed McFarlane as Westpac chairman; US reporting season gathers pace. Follow updates here.
Read more »
ASX 200 LIVE: ASX to fall; Gregg to succeed McFarlane as Westpac chairmanShares are set to open lower with geopolitics risks high; SkyCity CEO and Qantas Loyalty chief resign; Gregg to succeed McFarlane as Westpac chairman; US reporting season gathers pace. Follow updates here.
Read more »