Zheng Quan Ri Bao Wang·2025-12-10 13:05Core Viewpoint - Shanghai Fosun Pharmaceutical announced the exclusive global rights grant for its GLP-1 drugs, including YP05002, to Pfizer, marking a significant collaboration in the internationalization of Chinese innovative drugs [1][2]. Group 1: Transaction Details - The initial payment for the transaction is set at $150 million, with potential milestone payments reaching up to $1.935 billion, leading to a total potential transaction value exceeding $2 billion [1]. - This deal is considered a top-tier transaction, reflecting the ongoing competitiveness in the GLP-1 drug market [1]. Group 2: Market Context - GLP-1 drugs mimic the hormone GLP-1, which helps control diabetes and promote weight loss, and are gaining traction among global pharmaceutical companies [2]. - Currently, four domestic GLP-1 drugs have been approved in China, with nearly 90 products in the research and development phase [2]. Group 3: Strategic Insights - Fosun Pharmaceutical's decision to grant global rights to Pfizer may be a strategic move to avoid intense competition in the domestic GLP-1 market, preserving maximum value [2]. - Pfizer is actively enhancing its GLP-1 portfolio through acquisitions, including a recent $10 billion purchase of Metsera, indicating the importance of GLP-1 products in maintaining competitive advantage [2]. Group 4: Future Development - The GLP-1 drug involved in the transaction is currently in Phase I clinical trials, and both companies aim to leverage their strengths to accelerate global clinical development and commercialization [3]. - Fosun Pharmaceutical's chairman emphasized the collaboration as a milestone in the company's strategy for innovation and internationalization, aiming to address unmet clinical needs in obesity and metabolic diseases [3].