Weight-Loss Drugs Like Ozempic Lead to Decline in Soda Sales, Hurting Coca-Cola

Shares of Coca-Cola fell over concerns that weight-loss drugs like Ozempic are leading to fewer grocery purchases and lower soda consumption.

Walmart's CEO noted shoppers taking the drugs are buying slightly fewer groceries and calories overall.

The news prompted selling in soda stocks, with Coca-Cola and Pepsi finishing down 4.8% and 5.2% respectively.

Walmart is studying shopping data to see how habits change for those taking Ozempic.

Coca-Cola has been shifting toward healthier drinks and smaller soda sizes, which may cushion the impact.