The global weight-loss drug market is entering a new phase, driven by the launch of oral formulations, upcoming generic competition, and price reductions in the United States for blockbuster products from Eli Lilly and Novo Nordisk. This rapidly shifting landscape is prompting Wall Street to reassess long-term projections that the market could reach $150 billion over the next decade.
Novo Nordisk has become the first company to introduce an oral GLP-1 weight-loss drug, giving the Danish pharmaceutical firm a competitive edge in the fast-evolving obesity treatment market.
The following companies are competing to develop oral weight-loss medications, aiming to secure a share of this high-margin market:
Eli Lilly The company's once-daily non-peptide oral GLP-1 receptor agonist, Orforglipron, demonstrated a weight reduction of up to 12.4% over 72 weeks in the highest dose group of non-diabetic overweight adults during Phase III trials. Another study indicated that switching from Lilly's injectable Zepbound or competitor Novo Nordisk's Wegovy to oral Orforglipron helped patients maintain weight loss. Lilly plans to launch Orforglipron in the U.S. as early as the second quarter of this year, pending FDA approval.
Structure Therapeutics The company is developing an oral non-peptide GLP-1 receptor agonist, GSBR-1290. In a Phase II trial involving 230 participants, the drug achieved a maximum weight loss of 11.3% after 36 weeks. Structure Therapeutics intends to initiate Phase III trials following a meeting with the FDA around mid-2026.
Merck In collaboration with Hansoh Pharmaceutical, Merck is preparing for early-stage clinical trials of the oral small-molecule GLP-1 receptor agonist HS-10535, which is currently undergoing laboratory studies.
AstraZeneca PLC Partnering with Eccogene, AstraZeneca is advancing the once-daily oral GLP-1 receptor agonist ECC5004. Early clinical trials have shown positive weight-loss signals and a favorable safety profile. Phase II trials will be led by AstraZeneca.
Roche Holding Ltd Following its acquisition of Carmot Therapeutics, Roche is developing the oral GLP-1 receptor agonist CT-966. An early-stage trial last year showed an average weight loss of 6.1% compared to placebo after four weeks in non-diabetic obese patients.
Viking Therapeutics The company is developing an oral formulation of VK2735, which targets both GLP-1 and GIP hormones to regulate metabolism. In Phase II trials, the investigational oral weight-loss drug helped patients lose 12.2% of their body weight, falling short of Wall Street's upper expectation of 15%.
Pfizer After a fierce bidding competition with Novo Nordisk, Pfizer acquired weight-loss drug developer Metsera for $10 billion, officially entering the lucrative obesity drug market. The deal provides Pfizer with two long-acting oral GLP-1 drugs currently in preclinical trials. Pfizer, in partnership with China's XNW Biotech, has already gained approval in China for its once-weekly injectable weight-loss treatment Xianwewei, posing competition to established products from Novo Nordisk, Eli Lilly, and Innovent Biologics. Pfizer previously developed the twice-daily oral GLP-1 drug danuglipron but discontinued it due to poor tolerability in Phase II data.
INNOVENT BIO China's Innovent Biologics is conducting early-stage clinical trials in the U.S. and China for its oral GLP-1 weight-loss drug IBI3032.
Huadong Medicine Co.,Ltd. In early-stage studies involving overweight or obese subjects in China, Huadong Medicine's investigational oral weight-loss drug HDM1002 achieved a maximum weight reduction of 6.8%.
Ascletis Pharma China's Ascletis Pharma reported that its oral GLP-1 drug candidate ASC30 achieved up to 7.7% weight loss in U.S. Phase II trials.
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