Pfizer(US:PFE) Guan Cha Zhe Wang·2025-12-15 14:27Core Insights - Pfizer is making a significant return to the GLP-1 market after three failed attempts with its own GLP-1 drugs, indicating a strong commitment to the weight loss drug sector valued at over $100 billion [1][4] - The company has signed a deal with Fosun Pharma's subsidiary, YaoYao Pharmaceutical, for the global exclusive rights to the oral GLP-1 receptor agonist YP05002 for a total transaction value of up to $2.085 billion, marking a record for early-stage Chinese innovative drug deals [1][2] Group 1: Strategic Intent - Pfizer's acquisition reflects its urgent need to establish a foothold in the GLP-1 space, especially in light of the dominance of competitors like Novo Nordisk and Eli Lilly, and the impending patent cliffs for its core products [1][9] - The company has recently invested heavily in the metabolic disease sector, having acquired Metsera for approximately $10 billion just a month prior, underscoring its strategy to position weight loss drugs as a core growth area [1][4] Group 2: Historical Context - Pfizer has faced multiple setbacks in the GLP-1 field, including the termination of clinical development for Lotiglipron and Danuglipron due to safety concerns and adverse effects observed in trials [4][5][8] - Following these failures, Pfizer attempted to revive Danuglipron with a new formulation but ultimately decided to terminate its development after further safety issues arose [5][8] Group 3: Market Potential - The global market for GLP-1 drugs is projected to reach $95 billion by 2030 and potentially expand to $120 billion by 2035, highlighting the significant growth opportunity in this sector [8] - Pfizer's CEO has indicated that weight loss drugs could become a major product for the company, with potential annual sales reaching $10 billion, making acquisitions a practical strategy in the face of internal development challenges [9]