关键词：肥胖症药物行业政策措施、肥胖症药物行业产业链、肥胖症药物市场规模、肥胖症药物行业细 分结构、肥胖症药物市场竞争格局、肥胖症药物行业面临的挑战 一、肥胖症药物行业定义及类别 肥胖症是一种普遍且复杂的慢性疾病，患病群体庞大，且已被视为多种慢性代谢性疾病的重要风险因 素。肥胖症患病率的增加已经成为全球性的严重健康问题和社会问题，肥胖症的治疗较困难。肥胖症的 治疗包括行为心理干预、运动干预、临床营养治疗与药物治疗等。药物治疗是肥胖症二级预防及治疗过 程中非常重要的一环。对肥胖症及时诊断和分类，评估并发症或合并症的情况，尽早给予生活方式调 整，必要时使用减重药物治疗，定期复查随访。当充分的生活方式干预和行为治疗（包括控制饮食量、 减少脂肪摄入、增加体力活动等）仍未达到预期减重效果，或者增加运动量可能加重基础疾病时，可以 考虑减重药物治疗。 适用于药物治疗的肥胖症情况 在肥胖症的治疗策略中，药物治疗极其重要。目前，全球用于治疗肥胖症的药物主要有3类：中枢性减 重药、非中枢性减重药以及兼有减重效果的降糖药物。主流抗肥胖症药物包括中枢神经系统作用药物、 脂肪酶抑制剂和营养刺激激素受体激动剂等。 主流抗肥胖症药物类别 ...

Core Insights - Pfizer has entered into a licensing agreement worth up to $2.1 billion with YaoPharma to develop and commercialize an obesity pill, enhancing its presence in the weight loss market [1][2] - The deal includes an upfront payment of $150 million to YaoPharma, with potential milestone payments of up to $1.94 billion and tiered royalties on sales if the drug is approved [2] - YaoPharma's drug targets the GLP-1 hormone, similar to Novo Nordisk's Wegovy, but is still in early-stage development, indicating a multi-year timeline before reaching patients [2] Company Strategy - This agreement allows Pfizer to diversify its obesity drug pipeline following setbacks from scrapping two previous pills in the last two years [3] - Pfizer's recent acquisition of obesity biotech Metsera for up to $10 billion further strengthens its competitive position in the obesity treatment space [3] - Pfizer plans to combine YaoPharma's treatment with its own mid-stage drug targeting the GIP hormone, following a dual approach similar to Eli Lilly's products [5] Market Potential - Analysts suggest that the weight loss drug market could be valued at approximately $100 billion by the 2030s, presenting a significant opportunity for Pfizer [6] - BMO Capital Markets analyst noted that the limited information on YaoPharma's drug does not diminish the promising short-term diversification potential for Pfizer in the obesity sector [6] - The $150 million upfront payment is seen as a prudent move in light of recent competitive bidding for Metsera [6]