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Source: 'Reuters - Business videos'
Description: Packaged food makers and fast-food restaurants may be forced to overhaul more of their products next year as newly approved, appetite-suppressing GLP-1 pills become available in January, analysts say. Lisa Bernhard has more.
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Video Transcript:
Packaged food makers and fast-food chains could be forced to overhaul more of their products next year as a newly approved weight-loss pill hits the market. That's according to food industry analysts who spoke to Reuters. The US Food and Drug Administration approved Novo Nordisk's Wegovy GLP-1 pill on Monday, sending shares of food companies down on Tuesday. Eli Lilly's rival medication is expected to gain approval from regulators next year. Up until now, GLP-1 medications have only been available in injectable form. More Americans are expected to try the drugs as a pill rather than as a shot because the medication will be cheaper and many patients are hesitant to inject themselves. Food companies, including Conagra Brands and Nestle, are already dealing with shifts in consumer tastes toward higher protein and smaller portions due to the popularity of weight-loss injections. Earlier this year, Conagra started labeling some of its Healthy Choice frozen meals with high protein and fiber as "GLP-1 friendly". Nestle, the world's biggest food company, has also introduced new frozen meals that cater specifically to GLP-1 users called Vital Pursuit. Some 40% of American adults are obese, US government data shows, and around 12% of adults say they currently take GLP-1 drugs, according to a poll published last month by health policy research organization KFF.