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Hormonal shifts during perimenopause and menopauseparticularly the drop in estrogen, progesterone, and DHEAcreate a cascade of changes in the body: Slower metabolism (especially after age 40) Increased insulin resistance Visceral fat accumulation (around the belly and midsection) Disrupted sleep and cortisol imbalance Loss of lean muscle mass This isnt just about appearance

Postmenopausal women face additional risk due to estrogen deficiency affecting urogenital tissue

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Exhibit 3: The proportion of names that are highly exposed to GLP-1 drug penetration varies across staples sector Percentage of companies within sector with a BMI Index value score of 27+ Source: World Health Organisation, company reports, Barclays Research GLP1 drugs are having a material and disruptive impact not just across healthcare services and MedTech, but also a range of consumer sectors, especially snacks, soft drinks, and higher carbohydrate options