Hengrui Pharma(SH:600276) GLP1减重宝典·2026-01-16 15:29Core Viewpoint - Heng Rui Medicine's subsidiary has received approval for clinical trials of HRS-7535, a new oral small molecule GLP-1 receptor agonist, marking its entry into the weight loss drug market, which is currently dominated by injectable GLP-1 drugs [4][6]. Group 1: Product Overview - HRS-7535 is an innovative oral small molecule GLP-1 receptor agonist that does not rely on injection, addressing the challenges of achieving sufficient receptor activation and safety in oral administration [6]. - The mechanism of HRS-7535 includes promoting insulin secretion, inhibiting glucagon release, delaying gastric emptying, and enhancing satiety through the central nervous system, making it suitable for treating type 2 diabetes and weight loss [6]. Group 2: Market Positioning - The global weight loss drug market is currently dominated by injectable peptides that achieve weight loss of 15%-25%, but they face issues related to compliance, production costs, and long-term use burdens [7]. - Oral small molecule GLP-1 is viewed as a potential disruptive innovation; if it can balance efficacy and safety, its accessibility and commercialization potential will significantly increase [7]. Group 3: Industry Implications - The approval of HRS-7535 for clinical trials indicates a strategic shift among leading domestic innovative pharmaceutical companies, moving from merely following injectable peptide competition to seeking differentiated breakthroughs in small molecules and oral formulations [8]. - The development of oral small molecule GLP-1 is highly challenging, and while clinical risks are significant, successful outcomes could have strategic value and industry impact that far exceed the product itself [8].