Elon Musk Praises Novo Nordisk’s Weight-Loss Drug Ozempic as Solution to Childhood Obesity Epidemic
Musk's Ozempic tweet was shared by Donald Trump, Joe Biden, Robert Kennedy Jr. and Bill Ackman.
Tesla (NASDAQ: TSLA) and SpaceX CEO Elon Musk has sparked a conversation about childhood obesity and potential solutions after giving his seal of approval for Novo Nordisk’s (NYSE: NVO) Ozempic, a GLP-1 agonist primarily prescribed to manage type 2 diabetes.
What Happened
On Sunday, Musk responded to a post on X about childhood obesity in the U.S. and Japan. The post by Calley Means, co-founder of health startup Truemed, suggested five policies to address the issue, including banning TV pharma ads and reforming agriculture subsidies.
It was re-shared by billionaire investor Bill Ackman, who tagged Joe Biden, Donald Trump, and Robert Kennedy Jr. — the three major presidential candidates for the 2024 elections, saying, “This is great advice.”
Musk responded to Ackman’s post, saying, “Ozempic ftw,” indicating his support for the drug.
Ozempic ftw 🤷♂️
— Elon Musk (@elonmusk) May 5, 2024
Read Now: ELEVAI Labs: A Strategic Expansion in Biosciences and Skincare
ELEVAI Labs expands reach with new distribution partnerships, licensing agreement for therapeutic assets targeting obesity and the formation of skincare and biosciences subsidiaries.
Why it Matters
Musk’s tweet has brought attention to the growing issue of childhood obesity in the U.S. and Japan. Obesity has been a significant public health concern, with long-term implications for the affected individuals and the healthcare system.
This is not the first time the tech mogul has seemingly backed the blockbuster drug. Last year, Musk claimed that Ozempic was affecting food sales at Walmart (NYSE: WMT).
In March, Novo Nordisk announced the launch of Ozempic’s sister drug, Wegovy, in Japan, in response to the country’s rising obesity rates. However, the drug has also faced criticism for its high cost.
Previously, Senator Bernie Sanders (I-Vt.) expressed concerns about the high price of Ozempic, which is sometimes used controversially for weight loss by suppressing appetite.
Earlier, the World Health Organization or WHO also cautioned that relying solely on potent and widely used medications for obesity won’t adequately tackle the escalating global obesity epidemic, which currently impacts more than a billion people.
Shares of Novo Nordisk closed today at $124.59, up +1.24%. YTD, NVO stock is up +22.02% and over the past year is up +47.93%. All-time, NVO shares have increased by +49,736%.
This article was originally published on Benzinga.com.
Read Next: Global Obesity Drug Market to Grow 16x – Top Weight-Loss Stocks to Watch in 2024
Join the Discussion in the WVC Facebook Investor Group
Have a Stock Tip or New Story Suggestion? Email us at Invest@WealthyVC.com
Disclaimer: Wealthy VC does not hold a long or short position in any of the stocks, ETFs or cryptocurrencies mentioned in this article.
