Food retailers and producers are getting slammed as GLP-1 drugs like Ozempic raise growing alarms about demand

• The rise of GLP-1 drugs is driving consumer staples stocks lower as patients eat less food.
• Shares of PepsiCo, Coca-Cola, Walmart, and Costco have been slammed on the prospect of less food demand.
• The CEO of Walmart's US division said they are already seeing patients using GLP-1 drugs buy less food at the retailer.

Consumer staples stocks have been slammed this week as investors try to size up the potential negative impact GLP-1 drugs like Ozempic, Wegovy, and Mounjaro could have on food companies.