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Nestle S.A. (OTC:NSRGY) CEO Mark Schneider stated that despite the rising use of weight loss medications like Eli Lilly And Company's (NYSE:LLY) Zepbound and Novo Nordisk's (NYSE:NVO) Wegovy, the company has not observed any decrease in coffee consumption.
"Like many others, at Nestle, we have every reason to greet this exciting new class of drugs with optimism," Schneider said in a LinkedIn post.
The executive envisions growth prospects for Nestle in the health science sector, focusing on offering products like protein bars, powders, and drinks tailored for consumers using GLP-1 agonist drugs, Reuters said in a news report.
Also Read: Novo Nordisk Collaborates With India's Online Marketplace To Remove Unauthorized Wegovy Listings
"This part of Nestle Health Science's business, which we call "Active Nutrition," is growing strongly," Schneider said in the post.
Within Nestlé Health Science alone, the company already has more than 1.5 billion Swiss francs of revenue from products that provide nutritional benefits suitable to GLP-1 patients.
This business is mainly focused on North America, where GLP-1 adoption is highest.
"We will build on this with a broader geographic rollout as well as additional companion products and offerings," Schneider said, adding that new launches will happen as soon as next year.
Nestle's current food and beverage portfolio offers a "strong starting point." The company aims to redouble its innovation efforts to meet GLP-1 patients' needs.
"Our R&D muscle and innovative spirit will help us capture this opportunity and serve GLP-1 patients in the best possible way," the LinkedIn post read.
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Price Action: NSRGY shares traded lower by 0.22% to $111.94 on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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