近日，"明星药"司美格鲁肽口服版获美国食品药品监督管理局批准用于减重，其注射剂版此前作为全球 首个GLP-1类减重药物获批，受到广泛关注，去年我国批准司美格鲁肽注射液用于成人体重控制。此次 其口服片剂在美国获批，再次引发公众对"便捷变瘦变美"的热切期盼。 GLP-1类药物为什么能够帮助成人控制体重？其口服版提升了用药便利性，会不会造成药物滥用？带着 这些问题，科技日报记者12月25日采访了相关专家。 第一问：吃下或注射司美格鲁肽之后，体内会发生什么？ 很多人因为"明星药"认识了一个拗口的分子生物学名词GLP-1。GLP-1中文全称是胰高血糖素样肽-1， 它能根据血糖水平精准调控胰岛素和胰高血糖素分泌，司美格鲁肽是它的类似物。 "细胞上有很多与这类肽匹配的'锁'，被称为受体，只有和它们结合，才会'激活'细胞内的反应。"澳门 理工大学人工智能药物发现中心副教授李克峰告诉记者，这就好比体内的"钥匙"不够用了，从体外合成 了类似的"钥匙"进到体内，也能打开胰岛β细胞以及胃肠道、中枢神经系统等一些细胞膜上的"锁"，起 到促进胰岛素分泌、抑制胰高血糖素、延缓胃排空，通过中枢通路抑制食欲的作用。 "从机理可以看出，司美格鲁 ...

Investment Rating - The report does not explicitly state an investment rating for the GLP-1RA drug industry Core Insights - The GLP-1 receptor agonists (GLP-1RA) are a class of drugs that mimic the action of GLP-1, promoting insulin secretion and reducing appetite, leading to blood sugar control and weight loss [2][3] - The global market for GLP-1 drugs is dominated by semaglutide and tirzepatide, with semaglutide achieving sales of $16.6 billion in the first half of 2025, making it the top-selling drug globally [8] - The expiration of patents for major drugs is expected to lead to a surge in generic versions, increasing market competition and reducing treatment costs [11] Summary by Sections GLP-1 Drug Classification and Mechanism - GLP-1RA drugs are categorized into short-acting, long-acting, and ultra-long-acting formulations, each with different pharmacokinetic profiles [2][3] - These drugs are effective in treating conditions such as obesity, type 2 diabetes, and metabolic disorders [4] Market Performance and Patent Expiration - The sales of GLP-1 drugs have shown significant growth, with semaglutide's weight management product Wegovy achieving $5.441 billion in sales, a 78% increase year-over-year [8] - Key patents for drugs like liraglutide have expired, while others like semaglutide will expire in 2026, paving the way for biosimilars [9][11] R&D Progress in China - Chinese companies are advancing in the development of dual-target and multi-target GLP-1 drugs, with significant progress in clinical trials [13][14] - The focus is shifting towards expanding indications for GLP-1 drugs beyond diabetes and obesity to include conditions like Alzheimer's and cardiovascular diseases [15] Future Market Potential - The Chinese GLP-1 market is projected to grow from 9.62 billion yuan in 2020 to 71.7 billion yuan by 2029, with a compound annual growth rate (CAGR) of 22.1% [22] - The inclusion of GLP-1 drugs in national health insurance is expected to enhance market penetration and accessibility [22] Innovation Trends - The industry is witnessing a trend towards multi-target drug development and the introduction of oral formulations to improve patient compliance [28][29] - The competitive landscape is intensifying as both original and generic drug manufacturers seek to establish a foothold in the market [30][31]

Core Insights - Eli Lilly has become the first pharmaceutical company to surpass a market capitalization of $1 trillion, breaking the tech industry's dominance in the "trillion-dollar club" [2] - The company's stock has risen over 35% this year, driven by a surge in demand for weight loss drugs [2] - Sales of Eli Lilly's GLP-1 drug, tirzepatide, have exceeded $10 billion, accounting for more than half of the company's total revenue [2] - Eli Lilly has overtaken Merck's Keytruda in quarterly sales, establishing itself as a leading player in the pharmaceutical market [2] - The company plans to invest billions to increase domestic production of weight loss drugs in the U.S. [2] Market Dynamics - The weight loss drug market is projected to become one of the most profitable segments in healthcare, driven by a large patient base [2] - Wall Street estimates that the weight loss drug market could reach $150 billion by 2030, with Eli Lilly and Novo Nordisk expected to capture a significant share of the anticipated sales [3] - Eli Lilly's stock performance has outpaced the broader U.S. market, with a 75% increase since the launch of tirzepatide in late 2023, compared to a 50% rise in the S&P 500 [3] Future Prospects - Investors are closely watching Eli Lilly's next-generation oral weight loss drug, orforglipron, which is expected to receive approval in early next year [3] - Analysts from Citigroup have highlighted the latest generation of GLP-1 drugs as a "sales miracle," indicating strong sales trends for the next-generation oral weight loss drug [4]

Core Viewpoint - Eli Lilly has become the first pharmaceutical company to surpass a market capitalization of $1 trillion, breaking the dominance of the tech industry in this exclusive club [3]. Group 1: Company Performance - Eli Lilly's stock price has increased by over 35% this year, driven by a surge in demand for weight loss drugs [4]. - The sales of Eli Lilly's GLP-1 drug, tirzepatide, have exceeded $10 billion, accounting for more than half of the company's total revenue [4]. - Eli Lilly's tirzepatide has outperformed Merck's cancer drug Keytruda in quarterly sales, establishing it as a leading product in the pharmaceutical market [4]. Group 2: Market Dynamics - Eli Lilly has rapidly gained market share in the weight loss drug sector, overtaking Novo Nordisk and capturing a significant portion of the U.S. market for GLP-1 drugs [4]. - The obesity treatment market is projected to become one of the most profitable segments in healthcare, driven by a large patient base [4]. - Analysts estimate that the weight loss drug market will reach $150 billion by 2030, with Eli Lilly and Novo Nordisk expected to dominate global sales [5]. Group 3: Future Prospects - Investors are closely watching Eli Lilly's next-generation oral weight loss drug, orforglipron, which is anticipated to receive approval in early next year [5]. - The latest generation of GLP-1 drugs is being hailed as a "sales miracle," indicating strong future sales trends for Eli Lilly's products [5].

Core Insights - The new weight loss treatment drugs have significant market potential, making this sector one of the most profitable in the healthcare industry due to the large base of obesity patients [1][3] - Eli Lilly's market capitalization surpassed $1 trillion, becoming the first pharmaceutical company to enter the "trillion-dollar club," breaking the dominance previously held by the tech industry [1] - Eli Lilly's stock price has increased over 35% this year, driven by the surge in demand for weight loss drugs [1] Financial Performance - In the latest quarterly report, Eli Lilly's GLP-1 drug, tirzepatide, achieved sales exceeding $10 billion, accounting for over half of the company's total revenue, surpassing Merck's Keytruda sales [3] - Eli Lilly has significantly outperformed Novo Nordisk in the weight loss drug market, capturing a large portion of the market share previously held by Novo Nordisk's semaglutide [3] - The company's valuation ranks among the top in large pharmaceutical firms, at approximately 50 times the expected earnings for the next 12 months, indicating strong investor confidence [3] Market Outlook - Wall Street estimates that the weight loss drug market will reach $150 billion by 2030, with Eli Lilly and Novo Nordisk expected to dominate the majority of global sales [3] - Investors are currently focused on Eli Lilly's next-generation oral weight loss drug, orforglipron, which is anticipated to receive approval in early next year [4] - Analysts from Citigroup noted that the latest generation of GLP-1 drugs has become a "sales miracle," and the next-generation oral weight loss drug is expected to benefit from strong sales trends [4]

Core Viewpoint - The article highlights the recent collaboration between LaiKai Pharmaceutical and Qilu Pharmaceutical, focusing on the exclusive licensing agreement for the breast cancer candidate drug LAE002, which is expected to enhance LaiKai's market position and financial prospects [1]. Company Summary - LaiKai Pharmaceutical's stock rose nearly 7% and is currently trading at 19 HKD with a transaction volume of 27.71 million HKD [1]. - The licensing agreement allows LaiKai to potentially receive up to 2.045 billion RMB in upfront and milestone payments, along with a revenue-sharing model of 10% to 20% based on net sales of the product [1]. - The clinical plan for LAE002, targeting HR+/HER2- breast cancer, aims to complete patient enrollment by Q4 2025 and submit a New Drug Application (NDA) in 2026 [1]. Industry Summary - The collaboration between LaiKai and Qilu represents a trend towards clearer division of labor within the domestic pharmaceutical industry, emphasizing complementary resource matching among different types of companies [1]. - The development of LAE002 is seen as a validation of LaiKai's business development capabilities, clinical execution, and financial strength, reinforcing its foundational strategy in the weight management sector [1]. - The article notes a shift in the definition of weight loss drugs, with a focus on preserving or even increasing lean body mass, indicating that future competitive areas will include combination therapies, muscle protection, formulation innovation, and mechanism expansion [1].

Core Viewpoint - The collaboration between Lai Kai Pharmaceutical and Qilu Pharmaceutical marks a significant step in the development and commercialization of the breast cancer candidate drug LAE002, indicating a strategic move in the pharmaceutical industry towards optimized resource allocation and differentiation in the market [1] Company Summary - Lai Kai Pharmaceutical-B (02105) experienced a stock price increase of nearly 7%, currently trading at 19 HKD with a transaction volume of 27.71 million HKD [1] - The licensing agreement grants Qilu Pharmaceutical exclusive rights for research, development, and commercialization of LAE002 in China, with potential total payments to Lai Kai reaching 2.045 billion RMB [1] - The agreement includes milestone payments and a revenue-sharing model based on net sales, with percentages ranging from over 10% to over 20% [1] Industry Summary - The clinical plan for LAE002, targeting HR+/HER2- breast cancer, is set to complete patient enrollment by Q4 2025, with a New Drug Application (NDA) submission planned for 2026 [1] - The partnership exemplifies a trend in the domestic pharmaceutical industry towards clearer division of labor and resource matching among different types of companies, countering market saturation and homogeneity [1] - The development of LAE002 is seen as a precursor to broader advancements in weight loss therapies, emphasizing the importance of preserving or even increasing lean body mass as a key objective for next-generation treatments [1]

Core Viewpoint - Pfizer has filed a second lawsuit against Novo Nordisk, accusing it of anti-competitive behavior in its attempt to acquire weight-loss drug manufacturer Metsera, claiming that the bid is aimed at maintaining market share rather than genuine acquisition interests [2][6]. Group 1: Legal Actions and Accusations - Pfizer has submitted a lawsuit to the U.S. District Court in Delaware, alleging that Metsera's controlling shareholders colluded with Novo Nordisk to influence the development of new drugs [3]. - Pfizer has requested a temporary restraining order to prevent Metsera from terminating its agreement with Pfizer [5]. - The lawsuit claims that Novo Nordisk offered $6.5 billion in prepayment to Metsera's shareholders before regulatory review, including restrictive clauses that could delay or obstruct new drug clinical progress [7]. Group 2: Market Dynamics and Competitive Landscape - The ongoing legal battle highlights the intense competition between Pfizer and Novo Nordisk over Metsera, which has a promising weight-loss drug pipeline projected to generate $5 billion in annual revenue [10]. - Metsera has received seven acquisition offers this year, with Novo Nordisk's final bid valuing the company at $9 billion, exceeding Pfizer's offer by over $1 billion [10]. - Novo Nordisk's market dominance in weight-loss drugs is under threat, especially with the expiration of its core product GLP-1 drug semaglutide's patent in China by 2026, which is expected to lead to the entry of numerous generics [10]. Group 3: Industry Trends and Competitor Performance - The weight-loss drug market is seeing significant investments from major players like Novo Nordisk and Eli Lilly, with Eli Lilly currently outperforming Novo Nordisk in recent data, leading to a nearly 40% drop in Novo Nordisk's stock price this year [11]. - Eli Lilly's GLP-1 drug tirzepatide generated $24.837 billion in revenue in the first three quarters, surpassing Merck's blockbuster cancer drug Keytruda [11]. - Other competitors in the weight-loss drug sector include Roche, Amgen, AstraZeneca, and Merck, all of which are entering the market through self-research and acquisition strategies [11]. Group 4: Emerging Players in China - In the Chinese market, Innovent Biologics' weight-loss drug product, mazhidutide, is in the early stages of growth, with several other companies like Heng Rui Medicine, Shijiazhuang Pharmaceutical Group, and East China Pharmaceutical actively investing in this field [12].

Core Viewpoint - Novo Nordisk's dominance in the weight loss drug market is being challenged by Pfizer's legal actions, which allege anti-competitive behavior related to the acquisition of Metsera [1][3][5]. Group 1: Legal Actions and Allegations - Pfizer has filed a second lawsuit against Novo Nordisk, accusing it of attempting to acquire Metsera at a price higher than Pfizer's offer, which constitutes anti-competitive behavior [1]. - Pfizer claims that Novo Nordisk's offer is a strategic move to maintain its market share of semaglutide rather than a genuine interest in Metsera's drug pipeline [3]. - The lawsuit includes allegations that Novo Nordisk provided $6.5 billion in upfront payments to Metsera's shareholders before regulatory review, with restrictive clauses that could delay or obstruct new drug development [4]. Group 2: Market Dynamics and Financial Implications - The ongoing legal battle intensifies competition between Pfizer and Novo Nordisk over Metsera, which has a promising weight loss drug pipeline projected to generate $5 billion in annual revenue [5]. - Metsera has received seven acquisition offers since the beginning of the year, with Novo Nordisk's final bid valuing the company at $9 billion, exceeding Pfizer's offer by over $1 billion [5]. - Novo Nordisk's market position is expected to face further challenges as its core product, GLP-1 drug semaglutide, will lose patent protection in China by 2026, leading to the entry of numerous generics [5]. Group 3: Competitive Landscape - The weight loss drug market is becoming increasingly competitive, with major players like Eli Lilly, Roche, Amgen, and AstraZeneca also entering the field through research and acquisitions [7]. - In China, companies such as Innovent Biologics are beginning to establish their weight loss drug products, while several domestic firms are actively investing in this sector [7]. - Eli Lilly has reported strong performance in the weight loss drug market, with its GLP-1 drug contributing $24.837 billion in revenue in the first three quarters, surpassing Merck's leading cancer drug Keytruda [6].

Core Viewpoint - Domestic pharmaceutical companies are intensifying competition in the GLP-1 market, particularly focusing on weight loss drugs, with Shijiazhuang Pharmaceutical Group making significant advancements in this area [1][2]. Group 1: Product Development and Clinical Trials - Shijiazhuang Pharmaceutical Group's subsidiary, Shijiazhuang Pharmaceutical Baike, has received regulatory acceptance for the new drug application of its innovative GLP-1 drug, Idaglutide α injection, aimed at long-term weight management in overweight or obese adults [1][2]. - The drug is based on a pivotal Phase III clinical trial involving overweight adults with at least one weight-related comorbidity, showing significant reductions in weight, waist circumference, blood sugar, blood pressure, and blood lipids compared to placebo [2][4]. - Idaglutide α injection is a recombinant human glucagon-like peptide-1 (hGLP-1) Fc fusion protein administered weekly, combining weight loss and blood sugar-lowering effects [1][2]. Group 2: Competitive Landscape - Idaglutide α injection is an innovative drug developed by Shijiazhuang Pharmaceutical Group, contrasting with the recently submitted application for the generic drug Semaglutide, highlighting the company's focus on original research [3][4]. - The competitive landscape includes multinational companies like Eli Lilly and Novo Nordisk, which are advancing next-generation weight loss therapies, shifting from single-target to multi-target approaches to enhance drug efficacy and safety [4][7]. - The global market for GLP-1 receptor agonists (GLP-1RA) is projected to reach $51.8 billion in 2024, with a 40% year-on-year growth, driven by significant demand in the weight loss segment [7]. Group 3: Future Prospects and Strategic Positioning - Shijiazhuang Pharmaceutical Group is also developing a long-acting GLP-1 drug, Semaglutide long-acting injection (SYH9017), which is expected to receive clinical approval for weight loss indications in December 2024 [5]. - The domestic weight loss drug market is becoming increasingly crowded, with multiple companies, including Shijiazhuang Pharmaceutical Group, submitting applications for Semaglutide, as the core patent for Novo Nordisk's Semaglutide is set to expire in 2026 [8].