Ozempic could help lower the risk of an opioid overdose

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and how Ozempic could be used for more than just weight loss.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:02Here's what we're watching on the street today.

00:05Wall Street took a break from setting record-closing highs as investors await more insight on Federal

00:10Reserve thinking.

00:11Fed Chairman Jerome Powell is speaking this week, and the numbers from the Fed's preferred

00:15inflation gauge for August are set to be released.

00:18Meanwhile, consumers will also be in the spotlight on Thursday with quarterly numbers from Costco

00:23and CarMax.

00:25In other news, one day after the CEO of Novo Nordisk received a tongue-lashing on Capitol

00:30Hill for the high price of Ozempic, there's a report suggesting the blockbuster diabetes

00:36drug could help treat opioid addiction.

00:39According to a paper published by the Journal of the American Medical Association, or JAMA

00:43Network Open, Ozempic's key ingredient, semaglutide, helped, quote, significantly lower the risk

00:50of an opioid overdose.

00:52The comparison was made with other treatments for diabetes in patients diagnosed with type

00:572 diabetes and opioid addiction.

01:00It is believed the GLP-1 drug class, which includes Ozempic, can shut down or diminish

01:05the desire for opioids, just like it does for food.

01:08However, authors of the study contend more research must be done.

01:13The report creates a ray of hope in the fight against the ravages of opioid addictions,

01:19which have resulted in a public health emergency declaration since 2017.

01:24The Centers for Disease Control and Prevention blamed the opioid epidemic for more than 81,000

01:29deaths in 2023, up from roughly 50,000 in 2019.

01:34That'll do it for your daily briefing from the New York Stock Exchange.

01:37I'm Conway Gintens with The Street.

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