Core Viewpoint - The GLP-1 sector presents significant growth potential in terms of patient base and market size, making it a crucial area for multinational corporations (MNCs) in the metabolic disease field [1] Group 1: MNC's GLP-1 Layout and BD Opportunities - The global GLP-1 drug market is dominated by Novo Nordisk and Eli Lilly, with other MNCs accelerating their layouts [1] - MNCs such as MSD, AbbVie, and Regeneron are increasing their focus on the GLP-1 sector, while companies like Roche, Amgen, AstraZeneca, and Pfizer have some clinical pipeline developments [1] - The expansion of indications and improvement of formulations indicate a substantial growth opportunity in the GLP-1 sector, which is essential for MNCs in the metabolic disease area [1] Group 2: Indication Expansion and Technological Advancements - The indications for GLP-1 drugs are expanding from glucose control and weight loss to high-quality weight loss, MASH, and Alzheimer's disease, with approvals expected between late 2025 and 2026 [2] - The shift from single-target to multi-target approaches aims to enhance weight loss efficacy by activating multiple metabolic receptors [2] Group 3: Domestic Pipeline Progress - Domestic companies are advancing in the multi-target GLP-1 field, with several clinical pipelines showing promise for significant BD events [3] - Oral and ultra-long-acting formulations are being developed to improve patient compliance, with notable progress in both domestic and global markets [3][6] Group 4: Investment Recommendations - Companies to watch include BGI Pharma, Zhongsheng Pharmaceutical, Gilead Sciences, Kangyuan Pharmaceutical, Jiuyuan Gene, Lepu Medical, East China Pharmaceutical, Shiyao Group, Hengrui Medicine, Hansoh Pharmaceutical, Ganli Pharmaceutical, and Hanyu Pharmaceutical [9]