REUTERS/Hannah McKay/Photo Illustration/File Photo Acquire Licensing RightsOct 6 (Reuters) - Nestle (NESN.S) shares were under pressure on Friday as investors weighed the potential impact of Novo Nordisk's (NOVOb.CO) blockbuster weight-losing drug Wegovy and how it could reduce spending on food. The KitKat and Nescafe coffee maker's shares were down 2% and headed for their lowest level in more than two years. However, Cox does not regard this as a substantial risk to Nestle and the broader food industry in the long term. Bruno Monteyne from Bernstein also pointed to the Wegovy impact, but saw little logic in the sell-off. "Danone sells water, baby milk powder, and yogurt: not sure how those would be negatively impacted by GLP1 / Wegovy?"

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Persons: Kat, Hannah McKay, Wegovy, Peers, Kepler Cheuvreux, Jon Cox, John Furner, Cox, Bruno Monteyne, Bernstein, Andrey Sychev, John Revill, Mark Potter Organizations: Nestle, REUTERS, Peers Danone, Unilever, Kepler, Bloomberg, Danone, Health, Thomson Locations: London, Britain, U.S