China's First Weight Loss Drug to Rival Global Giants Emerges; Market Poised for Rapid Growth

By 2050, 600 Million Chinese Are Projected to Be Overweight

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HONG KONG - Novo Nordisk and Eli Lilly & Co, the pharmaceutical giants dominating the global obesity drug market, now face their first serious rival in China.

Suzhou-based Innovent Biologics secured approval last week for its treatment mazdutide, a turning point in China's efforts to combat rising obesity and diabetes rates with local innovation.

With more than 600 million Chinese adults projected to be overweight by 2050, the emergence of a viable local alternative to Novo and Lilly's blockbuster GLP-1 treatments could make weight loss drugs more accessible in the world's second-largest economy.

China's nascent weight loss drug market is poised for rapid growth, with analysts estimating it could grow to between US$5.6 billion (S$7.2 billion) and US$11.4 billion a year. While China still accounts for just a fraction of the projected US$150 billion global pie, a raft of home-grown treatments and cheaper generics could significantly improve the availability and affordability of the medication.

The country has a pipeline of more than 30 late-stage obesity drug candidates under development, according to LEK Consulting. Several firms have already licensed their drugs to US or European drugmakers like AstraZeneca and Merck & Co for further clinical development outside the country.