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Slate Money: Is Ozempic Eating Into Snack Profits?

Slate Daily Feed

Slate Podcasts

News, Business, Society & Culture

41.1K Ratings

🗓️ 7 October 2023

⏱️ 34 minutes

🧾️ Download transcript

Summary

This week, Felix Salmon, Emily Peck, and Elizabeth Spiers talk about how Ozempic affects food buying habits, the rise in mortgage and interest rates, and the decrease in stock buybacks. In the Plus segment: The correlation between life expectancy and having a college degree. Podcast production by Jessamine Molli. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hello! Welcome to Slate Money, your guide to the business and finance news of the week.

0:18.0

I'm Felix Salmon of Axios. I'm here with Emily Peck of Axios. Hi.

0:22.5

I'm here with Elizabeth Spires of Slate and in your times, in places like that. Hello.

0:27.6

And we are going to talk about a Zem Pick. We are going to talk about weight loss drugs.

0:31.1

We're going to talk about the effect they are going to have on the economy in general.

0:35.8

And in particular, the snack food economy, fast food and Oreos and stuff like that.

0:42.4

People are going to be buying fewer of them because they're all going to be on these miracle drugs.

0:46.8

We are going to talk about interest rates, mortgage rates, all of that kind of good stuff

0:51.6

because they are hitting levels we have not seen since the Clinton administration.

0:55.8

We are going to talk about stock buybacks and other such weird financial ephemera.

1:03.2

We're going to talk about how maybe all of this fed policy is feeding through into people's behavior.

1:09.6

We have a whole slate plus segment on life expectancy, which is more interesting than it sounds.

1:14.8

It is all coming up on Slate Money. Emily.

1:20.8

I have a theory about calories, which I've shared with you in the Axios Slack,

1:28.0

but I want to broaden out to the Slate Money universe, which is that if you look at the share price of Novo Nordisk,

1:37.4

which is the Danish company that makes a Zem Pick and Wegabee,

1:41.0

what the market is pressing in is a massive increase in the number of people taking these drugs.

1:48.2

We know both in terms of the medical science of how these drugs work

1:52.0

and in terms of actual data from Walmart, which we can talk about,

1:55.6

that when people take these drugs, they consume many fewer calories.

2:01.0

They just eat a lot less.

2:03.8

It kind of stands to reason that if there are millions of people taking these drugs

...

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