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When looking for GLP-1-linked stocks to buy, investors tend to gravitate to it Novo Nordisk again Eli Lilly. That’s because these two companies actually make two of the most popular weight loss drugs today – Govy again Mounjarorespectively.
As the cost of this treatment decreases and daily pill versions are released, uptake will increase. Indeed, JP Morgan it says more than 30 million Americans could take it by 2030, up from 6.8m in 2024.
In the UK, more than 1.6m adults already use GLP-1s. But the total addressable market is huge (3.4m planned users in the NHS alone by 2036). Almost two-thirds of UK adults are classified as overweight.
There are a few firms that I believe could see an increase in sales as a result of this powerful long-term trend, including The next one (millions will need new, smaller sized clothes). With this in mind, here are two UK stocks to check out.
Eligibility
Naturally, losing weight can boost your confidence to start going to the gym. And this is good news I Exercise Group (LSE:GYM), a leading low-cost operator with 923,000 members across 260 UK sites.
Last year, revenue rose by 8% to £245m, while goodwill rose by 3%. Average revenue per member per month increased by 4% to £21.60, demonstrating the ability to increase prices without causing a significant exodus of members.
Adjusted pre-tax profit rose 194% to £10.6m. Meanwhile, the fitness firm generated £38.3m in free cash flow, which has funded all 16 new sites to open by 2025. With interest rates likely to rise again, I like this self-financing growth.
Competition adds to the risk, as could rising energy prices due to the Iran war. But the group has just announced a £10m share buyback, and is eyeing another 20 new site openings by 2026 (and 75 in three years). So I think the positives may outweigh the negatives.
It is worth mentioning that strength training protects against muscle loss. Doctors recommend such training and a high-protein diet for GLP-1 users to prevent muscle breakdown.
Finally, research group Mintel found that more than half of 18-24-year-olds hit the gym more than once in the month to July 2025, compared to 42% who go to the pub.
Nutrition and supplements
Many gym goers obviously use sports nutrition products and health supplements. So a growth company from FTSE 250 It’s worth checking out Applied Nutrition (LSE:APN).
What I love about this ambitious company is its global reach (operating in over 85 countries). In the US, for example, ABE (All Black Everything) pre-workout drinks have taken off Walmart shops.
In the UK, its products are in TescoAsda, and Holland & Barrett (where it sells Coleen Rooney’s popular health and beauty range).
In the current financial year (ending July), revenue is expected to jump by around 30% to £140m, with strong margins. This will show an acceleration from last year.
Another risk here is ingredient inflation, as whey prices have risen recently due to growing demand for protein. Although it is not directly applicable to its whey protein products (about a fifth of sales), the raw materials other than this ingredient are unchanged.
Interestingly, Morrisons will launch 53 Applied Nutrition food products, including high protein snacks and GLP-1 friendly prepared foods. The stock is trading at just 17.7% earnings per share of 27%.
