Weight-loss drugs shaping up to be a boon for grocers’ pharmacy units
While discount stores have been a bright spot recently for major grocery chains, other units within their empires have been quietly seeing a sales boom: their pharmacies. And it's largely coming from rising sales of weight-loss drugs. The popularity of Ozempic and other GLP-1 drugs, traditionally used to manage Type 2 diabetes, has exploded in recent years thanks to their weight-loss side…
Pharmacy units of major grocery chains are experiencing a significant rise in sales, primarily driven by the popularity of weight-loss drugs like Ozempic. These drugs, known as GLP-1s, were initially used to manage Type 2 diabetes but have gained traction for their weight-loss side effects. As cheaper generic versions become more widely available, uptake is expected to increase further.
Loblaw Cos. Ltd., which owns Shoppers Drug Mart and Pharmaprix, reported a 40% surge in GLP-1 sales in its last two quarters. Similarly, Metro Inc.'s Jean Coutu pharmacies saw a 4.8% increase in pharmacy same-store sales, outpacing food same-store sales metrics. Health Canada has approved three generic semaglutide products, making Canada the first G7 nation to do so.
With more affordable generics on the market, the uptake of GLP-1 drugs is expected to rise to about 20% in the next one to two years. This growth aligns with the expansion of pharmacy networks by Loblaw and Metro, who are opening more pharmacy units. The rising popularity of weight-loss drugs presents an opportunity for grocers to tailor customer experiences by suggesting GLP-1-friendly foods, offering health-care insights, and streamlining store shelf labeling.
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- Weight-loss drugs shaping up to be a boon for grocers’ pharmacy units winnipegfreepress.com
