Starting with the FDA’s approval of Ozempic to treat Type 2 Diabetes in 2017, the hype around and demand for GLP-1 drugs has skyrocketed, driven by the breadth of conditions they can treat and the impressive results they return, especially for weight management. In addition to Type 2 Diabetes, GLP-1 drugs have now received FDA approval to treat obesity, cardiovascular disease, chronic kidney disease, serious liver disease, and sleep apnea, and they’ve shown promise with other conditions like substance use disorder and osteoarthritis. (There’s also been hope that GLP-1s could treat Alzheimer’s, but Novo Nordisk just announced unsuccessful early trial results on that front.) List-price sales of GLP-1s increased from $14B in 2018 to $72B in 2023, with sales growth accelerating over that period as obesity-indicated GLP-1s started hitting the market.