More than 400 million people involved! Maotai also joins, obesity drug war escalates!
Obesity is a global public health problem and an important cause of a variety of chronic diseases. However, the treatment of obesity is difficult, and the effect of various weight loss measures is not ideal. The emergence of GLP-1 has opened up a new way for the treatment of obesity.
One of the hottest drugs in the capital market over the past year has been the GLP-1 (glucagon-like peptide-1) receptor agonist diet drugs, which were originally developed to lower blood sugar but can also suppress appetite and delay gastric emptying, leading to weight loss.
Obesity is a global public health problem and an important cause of a variety of chronic diseases. However, the treatment of obesity is difficult, and the effect of various weight loss measures is not ideal. The emergence of GLP-1 has opened up a new way for the treatment of obesity.
Weight loss stocks have become the darling of the capital market. Taking the weight loss drug express, the market value of many pharmaceutical companies has risen, and the total market value of Danish pharmaceutical company Novo Nordisk has exceeded the gross domestic product of Denmark for one year. The market value of Eli Lilly, an American pharmaceutical company whose revenue has not yet ranked among the top 10 pharmaceutical companies in the world, has climbed to the top of the global pharmaceutical market value.
The successful development of GLP-1 weight-loss drugs has attracted many enterprises from all over the world to enter the market, with capitals from all over the world chasing each other. The industry war has escalated, and Chinese and foreign enterprises have actively participated in it. In addition, there are many pharmaceutical companies vying to lay out the mid-stream industrial chain of GLP-1 weight-loss drugs, from providing raw materials to OEM manufacturing.
In the face of so many enterprises entering the market, whether the industry bubble of GLP-1 weight-loss drugs appears, and whether GLP-1 weight-loss drugs cause abuse, these issues have also attracted attention.
The mechanism of action of GLP-1 receptor agonists is that by activating the GLP-1 receptor, they promote insulin secretion in a glucose concentration-dependent manner, inhibit glucagon secretion and delay gastric emptying, and reduce food intake through central appetite suppression. This target was first discovered in the 1980s. At that time, scientists hoped to develop new hypoglycemic drugs based on GLP-1, but natural GLP-1 degrades within a few minutes after entering the body, with a very short half-life.
For a long time, the development of GLP-1 targets has not attracted much attention from the industry. It was not until the 1990s that scientists isolated a GLP-1 analogue, named Exendin-4, in a poison lizard. Unlike native GLP-1, Exendin-4 is not degraded in animals (mice and dogs) for hours.
Exendin-4, the world's first GLP-1 receptor agonist, was developed by Eli Lilly and Amylin. Exenatide was approved by the US FDA in 2005 for the treatment of type 2 diabetes in adults. However, a few patients treated with the drug developed pancreatitis or even pancreatic cancer after several years of marketing. Raising safety concerns about exenatide. Although exenatide was subsequently determined by the FDA to have no direct causal link to pancreatic cancer, sales of exenatide languish.
In 2009, the world's second GLP-1 receptor agonist, liraglutide, developed by Novo Nordisk, was launched in the European Union and the following year in the United States, also for hypoglycemic treatment. Liraglutide is given only once a day, compared with exenatide, which requires two injections a day.
In December 2014, liraglutide was approved by the US FDA for the treatment of obesity, but its use is limited due to its mild effect in the treatment of obesity.
The real impact of GLP-1 on weight loss will have to wait until another long-acting GLP-1 receptor agonist, semaglutide, developed by Novo Nordisk, becomes available.
Semaglutide was first approved as a glucose-lowering drug. In June 2021, semaglutide was approved by the US FDA for weight loss indication in June 2021, and the drug was named Wegovy. Compared with liraglutide, which requires a daily injection, semaglutide only needs to be injected once a week, which is more convenient to use and better patient compliance. More importantly, semaglutide was more effective in reducing weight.
With the introduction of semaglutide, the use of GLP-1 drugs in the treatment of obesity has gradually become popular.
In 2022, Tesla CEO Elon Musk once tweeted that he had lost weight successfully, giving the secret of weight loss as fasting and semaglutide injections. In Musk's celebrity effect, coupled with the efficacy of weight loss and other advantages, semaglutide was successfully taken out of the circle.
Since the launch of semaglutide, its sales have been rapidly expanded. In 2022, semaglutide's sales reached $10.9 billion, becoming the world's first GLP-1Obesity is a global public health problem and an important cause of a variety of chronic diseases. However, the treatment of obesity is difficult, and the effect of various weight loss measures is not ideal. The emergence of GLP-1 has opened up a new way for the treatment of obesity.
One of the hottest drugs in the capital market over the past year has been the GLP-1 (glucagon-like peptide-1) receptor agonist diet drugs, which were originally developed to lower blood sugar but can also suppress appetite and delay gastric emptying, leading to weight loss.
Obesity is a global public health problem and an important cause of a variety of chronic diseases. However, the treatment of obesity is difficult, and the effect of various weight loss measures is not ideal. The emergence of GLP-1 has opened up a new way for the treatment of obesity.
Weight loss stocks have become the darling of the capital market. Taking the weight loss drug express, the market value of many pharmaceutical companies has risen, and the total market value of Danish pharmaceutical company Novo Nordisk has exceeded the gross domestic product of Denmark for one year. The market value of Eli Lilly, an American pharmaceutical company whose revenue has not yet ranked among the top 10 pharmaceutical companies in the world, has climbed to the top of the global pharmaceutical market value.
The successful development of GLP-1 weight-loss drugs has attracted many enterprises from all over the world to enter the market, with capitals from all over the world chasing each other. The industry war has escalated, and Chinese and foreign enterprises have actively participated in it. In addition, there are many pharmaceutical companies vying to lay out the mid-stream industrial chain of GLP-1 weight-loss drugs, from providing raw materials to OEM manufacturing.
In the face of so many enterprises entering the market, whether the industry bubble of GLP-1 weight-loss drugs appears, and whether GLP-1 weight-loss drugs cause abuse, these issues have also attracted attention.
The mechanism of action of GLP-1 receptor agonists is that by activating the GLP-1 receptor, they promote insulin secretion in a glucose concentration-dependent manner, inhibit glucagon secretion and delay gastric emptying, and reduce food intake through central appetite suppression. This target was first discovered in the 1980s. At that time, scientists hoped to develop new hypoglycemic drugs based on GLP-1, but natural GLP-1 degrades within a few minutes after entering the body, with a very short half-life.
For a long time, the development of GLP-1 targets has not attracted much attention from the industry. It was not until the 1990s that scientists isolated a GLP-1 analogue, named Exendin-4, in a poison lizard. Unlike native GLP-1, Exendin-4 is not degraded in animals (mice and dogs) for hours.
Exendin-4, the world's first GLP-1 receptor agonist, was developed by Eli Lilly and Amylin. Exenatide was approved by the US FDA in 2005 for the treatment of type 2 diabetes in adults. However, a few patients treated with the drug developed pancreatitis or even pancreatic cancer after several years of marketing. Raising safety concerns about exenatide. Although exenatide was subsequently determined by the FDA to have no direct causal link to pancreatic cancer, sales of exenatide languish.
In 2009, the world's second GLP-1 receptor agonist, liraglutide, developed by Novo Nordisk, was launched in the European Union and the following year in the United States, also for hypoglycemic treatment. Liraglutide is given only once a day, compared with exenatide, which requires two injections a day.
In December 2014, liraglutide was approved by the US FDA for the treatment of obesity, but its use is limited due to its mild effect in the treatment of obesity.
The real impact of GLP-1 on weight loss will have to wait until another long-acting GLP-1 receptor agonist, semaglutide, developed by Novo Nordisk, becomes available.
Semaglutide was first approved as a glucose-lowering drug. In June 2021, semaglutide was approved by the US FDA for weight loss indication in June 2021, and the drug was named Wegovy. Compared with liraglutide, which requires a daily injection, semaglutide only needs to be injected once a week, which is more convenient to use and better patient compliance. More importantly, semaglutide was more effective in reducing weight.
With the introduction of semaglutide, the use of GLP-1 drugs in the treatment of obesity has gradually become popular.
In 2022, Tesla CEO Elon Musk once tweeted that he had lost weight successfully, giving the secret of weight loss as fasting and semaglutide injections. In Musk's celebrity effect, coupled with the efficacy of weight loss and other advantages, semaglutide was successfully taken out of the circle.
Since the launch of semaglutide, its sales have been rapidly expanded. In 2022, semaglutide's sales reached $10.9 billion, becoming the world's first GLP-1 drug with annual sales exceeding $10 billion, of which Wegovy, an injectable form for obesity, had sales of about $880 million.
In the first three quarters of 2023, semaglutide has already recorded revenue of $14.8 billion, up 86% year over year; Wegovy posted $3.2 billion in revenue, up 481% year over year.
In November 2023, another GLP-1 weight-loss drug with better efficacy, telpotide, was approved for marketing in the United States, developed by Eli Lilly, which is the industry's first dual target (GIP/GLP-1) drug. Similarly, it was approved for the treatment of diabetes before this indication was approved.
In the Chinese market, semaglutide has been approved for hypoglycemic therapy, but not for weight loss. Telpotide is not yet available in China.
In 2023, two GLP-1 weight-loss drugs have been approved in the Chinese market, one is liraglutide-like drug from Huadong Medicine (000963.SZ), and the other is benallutide, an innovative drug from Renhui Bio, both of which are short-acting drugs.
Obesity has become a global public health problem. Novo Nordisk estimates that 764 million people worldwide are obese.
Before the emergence of semaglutide, there was still a lack of safe and effective weight-loss drugs in the market, and the market penetration rate of weight-loss drugs was extremely low. Lifestyle change and surgery were the main ways to lose weight, but the former was difficult to adhere to, and the latter was limited.
Semaglutide was successfully developed in the field of weight loss, so that the outside world saw the huge market potential in the field of weight loss. In 2023, in the capital market, the stock prices of companies represented by Novo Nordisk and Eli Lilly were boiling. In the Chinese capital market, the concept of weight loss stocks were once pursued by various capitals.
According to the China Investment International Research Report, as of November 2023, the number of GLP-1 weight-loss drugs under development in the world (entering the second phase and above research stage) was more than 30.
The global competition for GLP-1 drug development is extremely fierce, and various new molecules are trying to make breakthroughs in efficacy, dosage forms, and injection frequency. The two major players, Novo Nordvade and Eli Lilly, are still strengthening their moats of weight-loss drugs, with several GLP-1 weight-loss products in development. Two companies are also racing to develop oral, small-molecule GLP-1 weight-loss drugs.
In terms of Chinese pharmaceutical enterprises, more than 10 pharmaceutical enterprises are developing GLP-1 innovative weight-loss drugs, including Hanssen Pharmaceutical, Page Biological, Shiyao Group (01093.HK), Siweida, Cinda Biological (01801.HK), Henrui Pharmaceutical (600276.SH) and other enterprises.
On January 2, 2024, Cinta Bio announced that its innovative glucagon-like peptide-1 receptor (GLP-1R)/glucagon receptor (GCGR) dual agonist, Marsdutide 9mg, had completed the first subject administration in a phase III clinical study (GLOR-2) in Chinese obese subjects. This is the fourth large-scale phase III clinical study to be conducted by Maxidotide. The drug is expected to become the first weight loss drug targeting a higher base of obese people in China.
In addition to independent research and development of innovative drugs, there are some Chinese pharmaceutical companies to develop GLP-1 generic drugs, mainly focusing on liraglutide and semaglutide.
The compound patent for liraglutide expires in 2017, and the crystal patent expires in 2022. The patent of semaglutide would normally expire in 2026, but the State Intellectual Property Office decided that all the core patents of semaglutide were invalid in 2022, and the follow-up litigation has not yet been concluded.
With so many pharmaceutical companies entering the GLP-1 diet drug market, is there a bubble in the industry?
From the forecast of various institutions, the future weight loss drug market scale is quite optimistic. Jpmorgan predicts that annual sales of GLP-1 weight-loss drugs will exceed $100 billion by 2030.
According to Huaxin Securities, 507 million people in China were overweight or obese in 2020, and 825 million people are expected to be overweight or obese in 2030, which means the domestic market demand for weight loss is strong. According to neutral evaluation, the market space of GLP-1 in the overweight/obesity field in China is expected to reach 46.1 billion yuan.
Zhou Jingjing, founder and CEO of Chengyi Biological, said in an interview with the First Financial reporter that the market of GLP-1 used in weight loss drugs has just opened, and the overall market is still in rapid growth.
"From the perspective of the competitive landscape on the GLP-1 track, there are two more competitive products emerging in the short term. One is oral small molecule GLP-1 receptor agonists, which have considerable market potential due to their convenience and low cost of use; "The other is multi-target drugs, such as injectable drugs with two - or three-target peptides, such as telpotide from Eli Lilly." Zhou Jingye said.
Zhou Jingjing said that there are still many difficulties in the development of oral small molecule GLP-1 drugs, but if there is a first-in-class advantage in this category, the competitive ability will be highlighted. In order to achieve this goal, it is necessary to lay out in advance, and the research and development ideas should also be significantly better than the competitors.
Another pharmaceutical company engaged in the research and development of weight-loss drugs told the first Financial reporter that weight loss targets a wide range of people, in the Chinese market, involving more than 400 million people, compared with anticancer drugs, the market size is huge. Although the competition of weight loss drug track is very volume, if we can fight to the top four in the industry, it is expected to break through from the market, which tests the research and development efficiency of pharmaceutical companies. "The GLP-1 weight-loss drugs currently in development are based on semaglutide, and if they are less effective than semaglutide, it will be difficult to win in the market."
At present, there are enterprises in the field of diet drugs, and the competition is upgraded.
At the beginning of December 2023, Swiss pharmaceutical giant Roche returned to the weight loss drug field, and a more than $3 billion acquisition once again pushed the weight loss drug competition track to a climax.
The target of Roche's acquisition is Carmot Therapeutics, a Swiss pharmaceutical company, which is dedicated to the research and development of metabolic diseases such as diabetes and weight loss. It has a number of GLP-1 drugs under development, including two GLP-1R/GIPR dual-target peptide agonists and one small molecule GLP-1 receptor agonist. But drug development is in its early stages.
Roche's Chugai awarded OWL833, a phase 1, small-molecule GLP-1 drug, to Eli Lilly in September 2008 for a mere $50 million down payment. What is not known is that OWL833 is now a star oral small molecule weight-loss drug Orforglipron.
So to speak, "got up early, got up late" Roche tried to make up for the weight-loss drug regret.
In the weighIn the weight loss drug track, there are many large multinational pharmaceutical companies gathered, and some companies are more frustrated and more courageous.
In the first half of 2023, Astrazeneca twice gave up the development of two self-developed GLP-1 weight-loss drugs, but a temporary abandonment does not mean a permanent abandonment. In November 2023, the company announced that it had reached a license for new drugs for cardiometabolics and obesity with Chinese pharmaceutical company Chengyi Biologics. Acquired global rights to Synbio's next generation oral glucagon-like peptide-1 receptor agonist (GLP-1RA) ECC5004 as monotherapy and combination therapy. The deal is Astrazeneca's largest for early clinical licensing in China and will cost more than $2 billion.
Chinese enterprises, there are running into the field.
In November 2023, the vaccine company Zhifei Biological announced that it would acquire 100% of the equity of Chen 'an Biological held by Zhirui Investment and Zhang Gaoxia in the form of cash. According to reports, focusing on the field of metabolic diseases such as diabetes and obesity, it has formed a clear pipeline layout of GLP-1 analogues and insulin analogues.
The popularity of GLP-1 weight-loss drugs has also stimulated the expansion of GLP-1 industrial chain in the mid-stream. Some capital turned to the upstream industry chain of GLP-1 "panning for gold".
The synthesis of GLP-1 peptide drugs is difficult, and the demand for semaglutide once exceeded the supply after it was approved overseas as a weight-loss indication.
China Merchants International said in the research report that the polypeptide industry chain includes downstream drug research and development companies, midstream CDMO (contract development and production organization) companies, and upstream reagent, consumables and equipment companies. According to its calculation, the maximum proportion of the upstream and midstream industry chain of polypeptide drugs in the value of the whole polypeptide industry chain can reach about 15%.
On November 29, 2023, Chengdu Taihe Weiya Biotechnology Co., LTD., which focuses on protecting amino acid and peptide drug intermediates, announced the completion of A+ round financing of nearly 300 million yuan. According to reports, the funds obtained from this round of financing will be mainly used to accelerate the production of the company's 240 mu second phase plant and the construction of the 500 mu third phase plant.
It is interesting that in the financing of Taihe Weiye, the liquor company Kweichow Moutai participated in the establishment of the Moutai Golden Stone Fund as a limited partner, which was also the first public investment of the Moutai Golden Stone Fund after the completion of the filing in August 2023.
Overweight and obesity are major risk factors for a variety of chronic diseases, including cancers, hypertension, cardiovascular diseases, diabetes, liver and kidney diseases, and so on. The health and economic burden of overweight and obesity is substantial.
Body mass index (BMI) ≥25 was defined as overweight and BMI≥30 as obesity according to the World Obesity Federation. In China, overweight is defined as BMI≥24, and obesity is defined as BMI≥28. BMI, the square ratio of weight (kg) to height (m).
With the popularity of the concept of GLP-1 weight loss in the market, the abuse of related drugs looms. Some people who do not meet the criteria for overweight or obesity use related drugs off-label because of obesity anxiety.
According to the research report released by China Merchants International, in the first three quarters of 2023, diabetes sales accounted for about 81% of global GLP-1 drug sales, and some of them were used for the treatment of obesity.
Foshan Fosun Chancheng Hospital endocrinology department chief physician Jiang Yiwen told the first financial reporter that in view of weight loss, lifestyle intervention has a certain effect, but need to adhere to, weight loss process will be slow. GLP-1 drugs have a significant effect on weight loss, but there are still some side effects of the drug, the most common side effects are nausea, vomiting, and dyspepsia.
"In the outpatient clinic, we often encounter some patients who ask for GLP-1 weight-loss drugs, but whether these patients are suitable for use, we will evaluate them in various ways, such as checking pancreatic function, body mass index, blood glucose, etc., in addition to excluding a history of thyroid cancer. "We don't recommend it for people who are too old, because they have weaker gastrointestinal function."
Ji Linong, director of the Department of Endocrinology of Peking University People's Hospital, once told the First Business Reporter that some people are concerned that some people take drugs without a doctor's check, which will bring many safety risks. The proper use of weight-loss drugs is not to change the shape, but to improve blood glucose and blood pressure, and finally achieve health.
Some markets believe that due to the certain consumption attributes of GLP-1 weight-loss products, the sales channel may be very different from traditional prescription drugs, and the out-of-hospital market may become the main sales channel of GLP-1 weight-loss products. With the listing of GLP-1 weight-loss drugs in China, some drugs have been sold through medical and aesthetic channels.
Unlike over-the-counter drugs that patients can purchase by themselves, GLP-1 is a prescription drug that is strictly regulated and can only be dispensed, purchased, and used by a professional physician. In medical institutions, doctors will strictly control the use of GLP-1 weight-loss drugs.
However, there are still blind spots on how to regulate the rational use of GLP-1 weight-loss drugs in the out-of-hospital market. Some people also easily prescribed related drugs through e-commerce channels. In addition, some medical estheticians exaggerate the efficacy of related drugs on social media.
Some investors told the First Financial reporter that if the abuse of GLP-1 weight-loss drugs is serious, it is bound to lead to stricter regulation.
Huadong Medicine insiders told the first financial reporter that the company's liraglutide injection has been sold in hundreds of large hospitals in China, and the number is still growing rapidly. In addition, the company is also actively laying out the market outside the hospital, including online platforms and offline pharmacies. The top 100 domestic chains have basically completed the development and coverage, or have completed communication and negotiation, and are actively distributing goods.
"The company always strictly abides by laws and regulations and the requirements of integrity and self-discipline in production and business activities. Liraglutide injection is prescribed and requires a doctor's prescription to purchase and use. Even if it is promoted in medical aesthetic institutions, patients need a prescription from a medical aesthetic doctor with prescription rights before they can buy it." East China medicine insiders say so. drug with annual sales exceeding $10 billion, of which Wegovy, an injectable form for obesity, had sales of about $880 million.
In the first three quarters of 2023, semaglutide has already recorded revenue of $14.8 billion, up 86% year over year; Wegovy posted $3.2 billion in revenue, up 481% year over year.
In November 2023, another GLP-1 weight-loss drug with better efficacy, telpotide, was approved for marketing in the United States, developed by Eli Lilly, which is the industry's first dual target (GIP/GLP-1) drug. Similarly, it was approved for the treatment of diabetes before this indication was approved.
In the Chinese market, semaglutide has been approved for hypoglycemic therapy, but not for weight loss. Telpotide is not yet available in China.
In 2023, two GLP-1 weight-loss drugs have been approved in the Chinese market, one is liraglutide-like drug from Huadong Medicine (000963.SZ), and the other is benallutide, an innovative drug from Renhui Bio, both of which are short-acting drugs.
Obesity has become a global public health problem. Novo Nordisk estimates that 764 million people worldwide are obese.
Before the emergence of semaglutide, there was still a lack of safe and effective weight-loss drugs in the market, and the market penetration rate of weight-loss drugs was extremely low. Lifestyle change and surgery were the main ways to lose weight, but the former was difficult to adhere to, and the latter was limited.
Semaglutide was successfully developed in the field of weight loss, so that the outside world saw the huge market potential in the field of weight loss. In 2023, in the capital market, the stock prices of companies represented by Novo Nordisk and Eli Lilly were boiling. In the Chinese capital market, the concept of weight loss stocks were once pursued by various capitals.
According to the China Investment International Research Report, as of November 2023, the number of GLP-1 weight-loss drugs under development in the world (entering the second phase and above research stage) was more than 30.
The global competition for GLP-1 drug development is extremely fierce, and various new molecules are trying to make breakthroughs in efficacy, dosage forms, and injection frequency. The two major players, Novo Nordvade and Eli Lilly, are still strengthening their moats of weight-loss drugs, with several GLP-1 weight-loss products in development. Two companies are also racing to develop oral, small-molecule GLP-1 weight-loss drugs.
In terms of Chinese pharmaceutical enterprises, more than 10 pharmaceutical enterprises are developing GLP-1 innovative weight-loss drugs, including Hanssen Pharmaceutical, Page Biological, Shiyao Group (01093.HK), Siweida, Cinda Biological (01801.HK), Henrui Pharmaceutical (600276.SH) and other enterprises.
On January 2, 2024, Cinta Bio announced that its innovative glucagon-like peptide-1 receptor (GLP-1R)/glucagon receptor (GCGR) dual agonist, Marsdutide 9mg, had completed the first subject administration in a phase III clinical study (GLOR-2) in Chinese obese subjects. This is the fourth large-scale phase III clinical study to be conducted by Maxidotide. The drug is expected to become the first weight loss drug targeting a higher base of obese people in China.
In addition to independent research and development of innovative drugs, there are some Chinese pharmaceutical companies to develop GLP-1 generic drugs, mainly focusing on liraglutide and semaglutide.
The compound patent for liraglutide expires in 2017, and the crystal patent expires in 2022. The patent of semaglutide would normally expire in 2026, but the State Intellectual Property Office decided that all the core patents of semaglutide were invalid in 2022, and the follow-up litigation has not yet been concluded.
With so many pharmaceutical companies entering the GLP-1 diet drug market, is there a bubble in the industry?
From the forecast of various institutions, the future weight loss drug market scale is quite optimistic. Jpmorgan predicts that annual sales of GLP-1 weight-loss drugs will exceed $100 billion by 2030.
According to Huaxin Securities, 507 million people in China were overweight or obese in 2020, and 825 million people are expected to be overweight or obese in 2030, which means the domestic market demand for weight loss is strong. According to neutral evaluation, the market space of GLP-1 in the overweight/obesity field in China is expected to reach 46.1 billion yuan.
Zhou Jingjing, founder and CEO of Chengyi Biological, said in an interview with the First Financial reporter that the market of GLP-1 used in weight loss drugs has just opened, and the overall market is still in rapid growth.
"From the perspective of the competitive landscape on the GLP-1 track, there are two more competitive products emerging in the short term. One is oral small molecule GLP-1 receptor agonists, which have considerable market potential due to their convenience and low cost of use; "The other is multi-target drugs, such as injectable drugs with two - or three-target peptides, such as telpotide from Eli Lilly." Zhou Jingye said.
Zhou Jingjing said that there are still many difficulties in the development of oral small molecule GLP-1 drugs, but if there is a first-in-class advantage in this category, the competitive ability will be highlighted. In order to achieve this goal, it is necessary to lay out in advance, and the research and development ideas should also be significantly better than the competitors.
Another pharmaceutical company engaged in the research and development of weight-loss drugs told the first Financial reporter that weight loss targets a wide range of people, in the Chinese market, involving more than 400 million people, compared with anticancer drugs, the market size is huge. Although the competition of weight loss drug track is very volume, if we can fight to the top four in the industry, it is expected to break through from the market, which tests the research and development efficiency of pharmaceutical companies. "The GLP-1 weight-loss drugs currently in development are based on semaglutide, and if they are less effective than semaglutide, it will be difficult to win in the market."
At present, there are enterprises in the field of diet drugs, and the competition is upgraded.t loss drug track, there are many large multinational pharmaceutical companies gathSemaglutide was successfully developed in the field of weight loss, so that the outside world saw the huge market potential in the field of weight loss. In 2023, in the capital market, the stock prices of companies represented by Novo Nordisk and Eli Lilly were boiling. In the Chinese capital market, the concept of weight loss stocks were once pursued by various capitals.
According to the China Investment International Research Report, as of November 2023, the number of GLP-1 weight-loss drugs under development in the world (entering the second phase and above research stage) was more than 30.
The global competition for GLP-1 drug development is extremely fierce, and various new molecules are trying to make breakthroughs in efficacy, dosage forms, and injection frequency. The two major players, Novo Nordvade and Eli Lilly, are still strengthening their moats of weight-loss drugs, with several GLP-1 weight-loss products in development. Two companies are also racing to develop oral, small-molecule GLP-1 weight-loss drugs.
In terms of Chinese pharmaceutical enterprises, more than 10 pharmaceutical enterprises are developing GLP-1 innovative weight-loss drugs, including Hanssen Pharmaceutical, Page Biological, Shiyao Group (01093.HK), Siweida, Cinda Biological (01801.HK), Henrui Pharmaceutical (600276.SH) and other enterprises.
On January 2, 2024, Cinta Bio announced that its innovative glucagon-like peptide-1 receptor (GLP-1R)/glucagon receptor (GCGR) dual agonist, Marsdutide 9mg, had completed the first subject administration in a phase III clinical study (GLOR-2) in Chinese obese subjects. This is the fourth large-scale phase III clinical study to be conducted by Maxidotide. The drug is expected to become the first weight loss drug targeting a higher base of obese people in China.
In addition to independent research and development of innovative drugs, there are some Chinese pharmaceutical companies to develop GLP-1 generic drugs, mainly focusing on liraglutide and semaglutide.
The compound patent for liraglutide expires in 2017, and the crystal patent expires in 2022. The patent of semaglutide would normally expire in 2026, but the State Intellectual Property Office decided that all the core patents of semaglutide were invalid in 2022, and the follow-up litigation has not yet been concluded.
With so many pharmaceutical companies entering the GLP-1 diet drug market, is there a bubble in the industry?
From the forecast of various institutions, the future weight loss drug market scale is quite optimistic. Jpmorgan predicts that annual sales of GLP-1 weight-loss drugs will exceed $100 billion by 2030.
According to Huaxin Securities, 507 million people in China were overweight or obese in 2020, and 825 million people are expected to be overweight or obese in 2030, which means the domestic market demand for weight loss is strong. According to neutral evaluation, the market space of GLP-1 in the overweight/obesity field in China is expected to reach 46.1 billion yuan.
Zhou Jingjing, founder and CEO of Chengyi Biological, said in an interview with the First Financial reporter that the market of GLP-1 used in weight loss drugs has just opened, and the overall market is still in rapid growth.
"From the perspective of the competitive landscape on the GLP-1 track, there are two more competitive products emerging in the short term. One is oral small molecule GLP-1 receptor agonists, which have considerable market potential due to their convenience and low cost of use; "The other is multi-target drugs, such as injectable drugs with two - or three-target peptides, such as telpotide from Eli Lilly." Zhou Jingye said.
Zhou Jingjing said that there are still many difficulties in the development of oral small molecule GLP-1 drugs, but if there is a first-in-class advantage in this category, the competitive ability will be highlighted. In order to achieve this goal, it is necessary to lay out in advance, and the research and development ideas should also be significantly better than the competitors.
Another pharmaceutical company engaged in the research and development of weight-loss drugs told the first Financial reporter that weight loss targets a wide range of people, in the Chinese market, involving more than 400 million people, compared with anticancer drugs, the market size is huge. Although the competition of weight loss drug track is very volume, if we can fight to the top four in the industry, it is expected to break through from the market, which tests the research and development efficiency of pharmaceutical companies. "The GLP-1 weight-loss drugs currently in development are based on semaglutide, and if they are less effective than semaglutide, it will be difficult to win in the market."
At present, there are enterprises in the field of diet drugs, and the competition is upgraded.t loss druAt present, there are enterprises in the field of diet drugs, and the competition is upgraded.t loss drug track, there are many large multinational pharmaceutical companies gathSemaglutide was successfully developed in the field of weight loss, so that the outside world saw the huge market potential in the field of weight loss. In 2023, in the capital market, the stock prices of companies represented by Novo Nordisk and Eli Lilly were boiling. In the Chinese capital market, the concept of weight loss stocks were once pursued by various capitals.
According to the China Investment International Research Report, as of November 2023, the number of GLP-1 weight-loss drugs under development in the world (entering the second phase and above research stage) was more than 30.
The global competition for GLP-1 drug development is extremely fierce, and various new molecules are trying to make breakthroughs in efficacy, dosage forms, and injection frequency. The two major players, Novo Nordvade and Eli Lilly, are still strengthening their moats of weight-loss drugs, with several GLP-1 weight-loss products in development. Two companies are also racing to develop oral, small-molecule GLP-1 weight-loss drugs.
In terms of Chinese pharmaceutical enterprises, more than 10 pharmaceutical enterprises are developing GLP-1 innovative weight-loss drugs, including Hanssen Pharmaceutical, Page Biological, Shiyao Group (01093.HK), Siweida, Cinda Biological (01801.HK), Henrui Pharmaceutical (600276.SH) and other enterprises.
On January 2, 2024, Cinta Bio announced that its innovative glucagon-like peptide-1 receptor (GLP-1R)/glucagon receptor (GCGR) dual agonist, Marsdutide 9mg, had completed the first subject administration in a phase III clinical study (GLOR-2) in Chinese obese subjects. This is the fourth large-scale phase III clinical study to be conducted by Maxidotide. The drug is expected to become the first weight loss drug targeting a higher base of obese people in China.
In addition to independent research and development of innovative drugs, there are some Chinese pharmaceutical companies to develop GLP-1 generic drugs, mainly focusing on liraglutide and semaglutide.
The compound patent for liraglutide expires in 2017, and the crystal patent expires in 2022. The patent of semaglutide would normally expire in 2026, but the State Intellectual Property Office decided that all the core patents of semaglutide were invalid in 2022, and the follow-up litigation has not yet been concluded.
With so many pharmaceutical companies entering the GLP-1 diet drug market, is there a bubble in the industry?
From the forecast of various institutions, the future weight loss drug market scale is quite optimistic. Jpmorgan predicts that annual sales of GLP-1 weight-loss drugs will exceed $100 billion by 2030.
According to Huaxin Securities, 507 million people in China were overweight or obese in 2020, and 825 million people are expected to be overweight or obese in 2030, which means the domestic market demand for weight loss is strong. According to neutral evaluation, the market space of GLP-1 in the overweight/obesity field in China is expected to reach 46.1 billion yuan.
Zhou Jingjing, founder and CEO of Chengyi Biological, said in an interview with the First Financial reporter that the market of GLP-1 used in weight loss drugs has just opened, and the overall market is still in rapid growth.
"From the perspective of the competitive landscape on the GLP-1 track, there are two more competitive products emerging in the short term. One is oral small molecule GLP-1 receptor agonists, which have considerable market potential due to their convenience and low cost of use; "The other is multi-target drugs, such as injectable drugs with two - or three-target peptides, such as telpotide from Eli Lilly." Zhou Jingye said.
Zhou Jingjing said that there are still many difficulties in the development of oral small molecule GLP-1 drugs, but if there is a first-in-class advantage in this category, the competitive ability will be highlighted. In order to achieve this goal, it is necessary to lay out in advance, and the research and development ideas should also be significantly better than the competitors.
Another pharmaceutical company engaged in the research and development of weight-loss drugs told the first Financial reporter that weight loss targets a wide range of people, in the Chinese market, involving more than 400 million people, compared with anticancer drugs, the market size is huge. Although the competition of weight loss drug track is very volume, if we can fight to the top four in the industry, it is expected to break through from the market, which tests the research and development efficiency of pharmaceutical companies. "The GLP-1 weight-loss drugs currently in development are based on semaglutide, and if they are less effective than semaglutide, it will be difficult to win in the market."
At present, there are enterprises in the field of diet drugs, and the competition is upgraded.t loss drug track, there are many large multinational pharmaceutical companies gathered, and some companies are more frustrated and more courageous.
In the first half of 2023, Astrazeneca twice gave up the development of two self-developed GLP-1 weight-loss drugs, but a temporary abandonment does not mean a permanent abandonment. In November 2023, the company announced that it had reached a license for new drugs for cardiometabolics and obesity with Chinese pharmaceutical company Chengyi Biologics. Acquired global rights to Synbio's next generation oral glucagon-like peptide-1 receptor agonist (GLP-1RA) ECC5004 as monotherapy and combination therapy. The deal is Astrazeneca's largest for early clinical licensing in China and will cost more than $2 billion.
Chinese enterprises, there are running into the field.
In November 2023, the vaccine company Zhifei Biological announced that it would acquire 100% of the equity of Chen 'an Biological held by Zhirui Investment and Zhang Gaoxia in the form of cash. According to reports, focusing on the field of metabolic diseases such as diabetes and obesity, it has formed a clear pipeline layout of GLP-1 analogues and insulin analogues.
The popularity of GLP-1 weight-loss drugs has also stimulated the expansion of GLP-1 industrial chain in the mid-stream. Some capital turned to the upstream industry chain of GLP-1 "panning for gold".
The synthesis of GLP-1 peptide drugs is difficult, and the demand for semaglutide once exceeded the supply after it was approved overseas as a weight-loss indication.
China Merchants International said in the research report that the polypeptide industry chain includes downstream drug research and development companies, midstream CDMO (contract development and production organization) companies, and upstream reagent, consumables and equipment companies. According to its calculation, the maximum proportion of the upstream and midstream industry chain of polypeptide drugs in the value of the whole polypeptide industry chain can reach about 15%.ered, and some companies are more frustrated and more courageous.
In the first half of 2023, Astrazeneca twice gave up the development of two self-developed GLP-1 weight-loss drugs, but a temporary abandonment does not mean a permanent abandonment. In November 2023, the company announced that it had reached a license for new drugs for cardiometabolics and obesity with Chinese pharmaceutical company Chengyi Biologics. Acquired global rights to Synbio's next generation oral glucagon-like peptide-1 receptor agonist (GLP-1RA) ECC5004 as monotherapy and combination therapy. The deal is Astrazeneca's largest for early clinical licensing in China and will cost more than $2 billion.
Chinese enterprises, there are running into the field.
In November 2023, the vaccine company Zhifei Biological announced that it would acquire 100% of the equity of Chen 'an Biological held by Zhirui Investment and Zhang Gaoxia in the form of cash. According to reports, focusing on the field of metabolic diseases such as diabetes and obesity, it has formed a clear pipeline layout of GLP-1 analogues and insulin analogues.
The popularity of GLP-1 weight-loss drugs has also stimulated the expansion of GLP-1 industrial chain in the mid-stream. Some capital turned to the upstream industry chain of GLP-1 "panning for gold".
The synthesis of GLP-1 peptide drugs is difficult, and the demand for semaglutide once exceeded the supply after it was approved overseas as a weight-loss indication.g track, there are many large multinational pharmaceutical companies gathered, and some companies are more frustrated and more courageous.
In the first half of 2023, Astrazeneca twice gave up the development of two self-developed GLP-1 weight-loss drugs, but a temporary abandonment does not mean a permanent abandonment. In November 2023, the company announced that it had reached a license for new drugs for cardiometabolics and obesity with Chinese pharmaceutical company Chengyi Biologics. Acquired global rights to Synbio's next generation oral glucagon-like peptide-1 receptor agonist (GLP-1RA) ECC5004 as monotherapy and combination therapy. The deal is Astrazeneca's largest for early clinical licensing in China and will cost more than $2 billion.
Chinese enterprises, there are running into the field.
In November 2023, the vaccine company Zhifei Biological announced that it would acquire 100% of the equity of Chen 'an Biological held by Zhirui Investment and Zhang Gaoxia in the form of cash. According to reports, focusing on the field of metabolic diseases such as diabetes and obesity, it has formed a clear pipeline layout of GLP-1 analogues and insulin analogues.
The popularity of GLP-1 weight-loss drugs has also stimulated the expansion of GLP-1 industrial chain in the mid-stream. Some capital turned to the upstream industry chain of GLP-1 "panning for gold".
The synthesis of GLP-1 peptide drugs is difficult, and the demand for semaglutide once exceeded the supply after it was approved overseas as a weight-loss indication.
China Merchants International said in the research report that the polypeptide industry chain includes downstream drug research and development companies, midstream CDMO (contract development and production organization) companies, and upstream reagent, consumables and equipment companies. According to its calculation, the maximum proportion of the upstream and midstream industry chain of polypeptide drugs in the value of the whole polypeptide industry chain can reach about 15%.ered, and some companies are more frustrated and more courageous.
In the first half of 2023, Astrazeneca twice gave up the development of two self-developed GLP-1 weight-loss drugs, but a temporary abandonment does not mean a permanent abandonment. In November 2023, the company announced that it had reached a license for new drugs for cardiometabolics and obesity with Chinese pharmaceutical company Chengyi Biologics. Acquired global rights to Synbio's next generation oral glucagon-like peptide-1 receptor agonist (GLP-1RA) ECC5004 as monotherapy and combination therapy. The deal is Astrazeneca's largest for early clinical licensing in China and will cost more than $2 billion.
Chinese enterprises, there are running into the field.
In November 2023, the vaccine company Zhifei Biological announced that it would acquire 100% of the equity of Chen 'an Biological held by Zhirui Investment and Zhang Gaoxia in the form of cash. According to reports, focusing on the field of metabolic diseases such as diabetes and obesity, it has formed a clear pipeline layout of GLP-1 analogues and insulin analogues.
The popularity of GLP-1 weight-loss drugs has also stimulated the expansion of GLP-1 industrial chain in the mid-stream. Some capital turned to the upstream industry chain of GLP-1 "panning for gold".
The synthesis of GLP-1 peptide drugs is difficult, and the demand for semaglutide once exceeded the supply after it was approved overseas as a weight-loss indication.
China Merchants International said in the research report that the polypeptide industry chain includes downstream drug research and development companies, midstream CDMO (contract development and production organization) companies, and upstream reagent, consumables and equipment companies. According to its calculation, the maximum proportion of the upstream and midstream industry chain of polypeptide drugs in the value of the whole polypeptide industry chain can reach about 15%.
On November 29, 2023, Chengdu Taihe Weiya Biotechnology Co., LTD., which focuses on protecting amino acid and peptide drug intermediates, announced the completion of A+ round financing of nearly 300 million yuan. According to reports, the funds obtained from this round of financing will be mainly used to accelerate the production of the company's 240 mu second phase plant and the construction of the 500 mu third phase plant.
It is interesting that in the financing of Taihe Weiye, the liquor company Kweichow Moutai participated in the establishment of the Moutai Golden Stone Fund as a limited partner, which was also the first public investment of the Moutai Golden Stone Fund after the completion of the filing in August 2023.
Overweight and obesity are major risk factors for a variety of chronic diseases, including cancers, hypertension, cardiovascular diseases, diabetes, liver and kidney diseases, and so on. The health and economic burden of overweight and obesity is substantial.
Body mass index (BMI) ≥25 was defined as overweight and BMI≥30 as obesity according to the World Obesity Federation. In China, overweight is defined as BMI≥24, and obesity is defined as BMI≥28. BMI, the square ratio of weight (kg) to height (m).
With the popularity of the concept of GLP-1 weight loss in the market, the abuse of related drugs looms. Some people who do not meet the criteria for overweight or obesity use related drugs off-label because of obesity anxiety.
According to the research report released by China Merchants International, in the first three quarters of 2023, diabetes sales accounted for about 81% of global GLP-1 drug sales, and some of them were used for the treatment of obesity.
Foshan Fosun Chancheng Hospital endocrinology department chief physician Jiang Yiwen told the first financial reporter that in view of weight loss, lifestyle intervention has a certain effect, but need to adhere to, weight loss process will be slow. GLP-1 drugs have a significant effect on weight loss, but there are still some side effects of the drug, the most common side effects are nausea, vomiting, and dyspepsia.
"In the outpatient clinic, we often encounter some patients who ask for GLP-1 weight-loss drugs, but whether these patients are suitable for use, we will evaluate them in various ways, such as checking pancreatic function, body mass index, blood glucose, etc., in addition to excluding a history of thyroid cancer. "We don't recommend it for people who are too old, because they have weaker gastrointestinal function."
Ji Linong, director of the Department of Endocrinology of Peking University People's Hospital, once told the First Business Reporter that some people are concerned that some people take drugs without a doctor's check, which will bring many safety risks. The proper use of weight-loss drugs is not to change the shape, but to improve blood glucose and blood pressure, and finally achieve health.
Some markets believe that due to the certain consumption attributes of GLP-1 weight-loss products, the sales channel may be very different from traditional prescription drugs, and the out-of-hospital market may become the main sales channel of GLP-1 weight-loss products. With the listing of GLP-1 weight-loss drugs in China, some drugs have been sold through medical and aesthetic channels.
Unlike over-the-counter drugs that patients can purchase by themselves, GLP-1 is a prescription drug that is strictly regulated and can only be dispensed, purchased, and used by a professional physician. In medical institutions, doctors will strictly control the use of GLP-1 weight-loss drugs.
However, there are still blind spots on how to regulate the rational use of GLP-1 weight-loss drugs in the out-of-hospital market. Some people also easily prescribed related drugs through e-commerce channels. In addition, some medical estheticians exaggerate the efficacy of related drugs on social media.
Some investors told the First Financial reporter that if the abuse of GLP-1 weight-loss drugs is serious, it is bound to lead to stricter regulation.
Huadong Medicine insiders told the first financial reporter that the company's liraglutide injection has been sold in hundreds of large hospitals in China, and the number is still growing rapidly. In addition, the company is also actively laying out the market outside the hospital, including online platforms and offline pharmacies. The top 100 domestic chains have basically completed the development and coverage, or have completed communication and negotiation, and are actively distributing goods.
"The company always strictly abides by laws and regulations and the requirements of integrity and self-discipline in production and business activities. Liraglutide injection is prescribed and requires a doctor's prescription to purchase and use. Even if it is promoted in medical aesthetic institutions, patients need a prescription from a medical aesthetic doctor with prescription rights before they can buy it." East China medicine insiders say so. drug with annual sales exceeding $10 billion, of which Wegovy, an injectable form for obesity, had sales of about $880 million.
In the first three quarters of 2023, semaglutide has already recorded revenue of $14.8 billion, up 86% year over year; Wegovy posted $3.2 billion in revenue, up 481% year over year.
In November 2023, another GLP-1 weight-loss drug with better efficacy, telpotide, was approved for marketing in the United States, developed by Eli Lilly, which is the industry's first dual target (GIP/GLP-1) drug. Similarly, it was approved for the treatment of diabetes before this indication was approved.
In the Chinese market, semaglutide has been approved for hypoglycemic therapy, but not for weight loss. Telpotide is not yet available in China.
In 2023, two GLP-1 weight-loss drugs have been approved in the Chinese market, one is liraglutide-like drug from Huadong Medicine (000963.SZ), and the other is benallutide, an innovative drug from Renhui Bio, both of which are short-acting drugs.
Obesity has become a global public health problem. Novo Nordisk estimates that 764 million people worldwide are obese.
Before the emergence of semaglutide, there was still a lack of safe and effective weight-loss drugs in the market, and the market penetration rate of weight-loss drugs was extremely low. Lifestyle change and surgery were the main ways to lose weight, but the former was difficult to adhere to, and the latter was limited.
Semaglutide was successfully developed in the field of weight loss, so that the outside world saw the huge market potential in the field of weight loss. In 2023, in the capital market, the stock prices of companies represented by Novo Nordisk and Eli Lilly were boiling. In the Chinese capital market, the concept of weight loss stocks were once pursued by various capitals.
According to the China Investment International Research Report, as of November 2023, the number of GLP-1 weight-loss drugs under development in the world (entering the second phase and above research stage) was more than 30.
The global competition for GLP-1 drug development is extremely fierce, and various new molecules are trying to make breakthroughs in efficacy, dosage forms, and injection frequency. The two major players, Novo Nordvade and Eli Lilly, are still strengthening their moats of weight-loss drugs, with several GLP-1 weight-loss products in development. Two companies are also racing to develop oral, small-molecule GLP-1 weight-loss drugs.
In terms of Chinese pharmaceutical enterprises, more than 10 pharmaceutical enterprises are developing GLP-1 innovative weight-loss drugs, including Hanssen Pharmaceutical, Page Biological, Shiyao Group (01093.HK), Siweida, Cinda Biological (01801.HK), Henrui Pharmaceutical (600276.SH) and other enterprises.
On January 2, 2024, Cinta Bio announced that its innovative glucagon-like peptide-1 receptor (GLP-1R)/glucagon receptor (GCGR) dual agonist, Marsdutide 9mg, had completed the first subject administration in a phase III clinical study (GLOR-2) in Chinese obese subjects. This is the fourth large-scale phase III clinical study to be conducted by Maxidotide. The drug is expected to become the first weight loss drug targeting a higher base of obese people in China.
In addition to independent research and development of innovative drugs, there are some Chinese pharmaceutical companies to develop GLP-1 generic drugs, mainly focusing on liraglutide and semaglutide.
The compound patent for liraglutide expires in 2017, and the crystal patent expires in 2022. The patent of semaglutide would normally expire in 2026, but the State Intellectual Property Office decided that all the core patents of semaglutide were invalid in 2022, and the follow-up litigation has not yet been concluded.
With so many pharmaceutical companies entering the GLP-1 diet drug market, is there a bubble in the industry?
From the forecast of various institutions, the future weight loss drug market scale is quite optimistic. Jpmorgan predicts that annual sales of GLP-1 weight-loss drugs will exceed $100 billion by 2030.
According to Huaxin Securities, 507 million people in China were overweight or obese in 2020, and 825 million people are expected to be overweight or obese in 2030, which means the domestic market demand for weight loss is strong. According to neutral evaluation, the market space of GLP-1 in the overweight/obesity field in China is expected to reach 46.1 billion yuan.
Zhou Jingjing, founder and CEO of Chengyi Biological, said in an interview with the First Financial reporter that the market of GLP-1 used in weight loss drugs has just opened, and the overall market is still in rapid growth.
"From the perspective of the competitive landscape on the GLP-1 track, there are two more competitive products emerging in the short term. One is oral small molecule GLP-1 receptor agonists, which have considerable market potential due to their convenience and low cost of use; "The other is multi-target drugs, such as injectable drugs with two - or three-target peptides, such as telpotide from Eli Lilly." Zhou Jingye said.
Zhou Jingjing said that there are still many difficulties in the development of oral small molecule GLP-1 drugs, but if there is a first-in-class advantage in this category, the competitive ability will be highlighted. In order to achieve this goal, it is necessary to lay out in advance, and the research and development ideas should also be significantly better than the competitors.
Another pharmaceutical company engaged in the research and development of weight-loss drugs told the first Financial reporter that weight loss targets a wide range of people, in the Chinese market, involving more than 400 million people, compared with anticancer drugs, the market size is huge. Although the competition of weight loss drug track is very volume, if we can fight to the top four in the industry, it is expected to break through from the market, which tests the research and development efficiency of pharmaceutical companies. "The GLP-1 weight-loss drugs currently in development are based on semaglutide, and if they are less effective than semaglutide, it will be difficult to win in the market."
At present, there are enterprises in the field of diet drugs, and the competition is upgraded.
At the beginning of December 2023, Swiss pharmaceutical giant Roche returned to the weight loss drug field, and a more than $3 billion acquisition once again pushed the weight loss drug competition track to a climax.
The target of Roche's acquisition is Carmot Therapeutics, a Swiss pharmaceutical company, which is dedicated to the research and development of metabolic diseases such as diabetes and weight loss. It has a number of GLP-1 drugs under development, including two GLP-1R/GIPR dual-target peptide agonists and one small molecule GLP-1 receptor agonist. But drug development is in its early stages.
Roche's Chugai awarded OWL833, a phase 1, small-molecule GLP-1 drug, to Eli Lilly in September 2008 for a mere $50 million down payment. What is not known is that OWL833 is now a star oral small molecule weight-loss drug Orforglipron.
So to speak, "got up early, got up late" Roche tried to make up for the weight-loss drug regret.
In the weight loss drug track, there are many large multinational pharmaceutical companies gathered, and some companies are more frustrated and more courageous.
In the first half of 2023, Astrazeneca twice gave up the development of two self-developed GLP-1 weight-loss drugs, but a temporary abandonment does not mean a permanent abandonment. In November 2023, the company announced that it had reached a license for new drugs for cardiometabolics and obesity with Chinese pharmaceutical company Chengyi Biologics. Acquired global rights to Synbio's next generation oral glucagon-like peptide-1 receptor agonist (GLP-1RA) ECC5004 as monotherapy and combination therapy. The deal is Astrazeneca's largest for early clinical licensing in China and will cost more than $2 billion.
Chinese enterprises, there are running into the field.
In November 2023, the vaccine company Zhifei Biological announced that it would acquire 100% of the equity of Chen 'an Biological held by Zhirui Investment and Zhang Gaoxia in the form of cash. According to reports, focusing on the field of metabolic diseases such as diabetes and obesity, it has formed a clear pipeline layout of GLP-1 analogues and insulin analogues.
The popularity of GLP-1 weight-loss drugs has also stimulated the expansion of GLP-1 industrial chain in the mid-stream. Some capital turned to the upstream industry chain of GLP-1 "panning for gold".
The synthesis of GLP-1 peptide drugs is difficult, and the demand for semaglutide once exceeded the supply after it was approved overseas as a weight-loss indication.
China Merchants International said in the research report that the polypeptide industry chain includes downstream drug research and development companies, midstream CDMO (contract development and production organization) companies, and upstream reagent, consumables and equipment companies. According to its calculation, the maximum proportion of the upstream and midstream industry chain of polypeptide drugs in the value of the whole polypeptide industry chain can reach about 15%.
On November 29, 2023, Chengdu Taihe Weiya Biotechnology Co., LTD., which focuses on protecting amino acid and peptide drug intermediates, announced the completion of A+ round financing of nearly 300 million yuan. According to reports, the funds obtained from this round of financing will be mainly used to accelerate the production of the company's 240 mu second phase plant and the construction of the 500 mu third phase plant.
It is interesting that in the financing of Taihe Weiye, the liquor company Kweichow Moutai participated in the establishment of the Moutai Golden Stone Fund as a limited partner, which was also the first public investment of the Moutai Golden Stone Fund after the completion of the filing in August 2023.
Overweight and obesity are major risk factors for a variety of chronic diseases, including cancers, hypertension, cardiovascular diseases, diabetes, liver and kidney diseases, and so on. The health and economic burden of overweight and obesity is substantial.
Body mass index (BMI) ≥25 was defined as overweight and BMI≥30 as obesity according to the World Obesity Federation. In China, overweight is defined as BMI≥24, and obesity is defined as BMI≥28. BMI, the square ratio of weight (kg) to height (m).
With the popularity of the concept of GLP-1 weight loss in the market, the abuse of related drugs looms. Some people who do not meet the criteria for overweight or obesity use related drugs off-label because of obesity anxiety.
According to the research report released by China Merchants International, in the first three quarters of 2023, diabetes sales accounted for about 81% of global GLP-1 drug sales, and some of them were used for the treatment of obesity.
Foshan Fosun Chancheng Hospital endocrinology department chief physician Jiang Yiwen told the first financial reporter that in view of weight loss, lifestyle intervention has a certain effect, but need to adhere to, weight loss process will be slow. GLP-1 drugs have a significant effect on weight loss, but there are still some side effects of the drug, the most common side effects are nausea, vomiting, and dyspepsia.
"In the outpatient clinic, we often encounter some patients who ask for GLP-1 weight-loss drugs, but whether these patients are suitable for use, we will evaluate them in various ways, such as checking pancreatic function, body mass index, blood glucose, etc., in addition to excluding a history of thyroid cancer. "We don't recommend it for people who are too old, because they have weaker gastrointestinal function."
Ji Linong, director of the Department of Endocrinology of Peking University People's Hospital, once told the First Business Reporter that some people are concerned that some people take drugs without a doctor's check, which will bring many safety risks. The proper use of weight-loss drugs is not to change the shape, but to improve blood glucose and blood pressure, and finally achieve health.
Some markets believe that due to the certain consumption attributes of GLP-1 weight-loss products, the sales channel may be very different from traditional prescription drugs, and the out-of-hospital market may become the main sales channel of GLP-1 weight-loss products. With the listing of GLP-1 weight-loss drugs in China, some drugs have been sold through medical and aesthetic channels.
Unlike over-the-counter drugs that patients can purchase by themselves, GLP-1 is a prescription drug that is strictly regulated and can only be dispensed, purchased, and used by a professional physician. In medical institutions, doctors will strictly control the use of GLP-1 weight-loss drugs.
However, there are still blind spots on how to regulate the rational use of GLP-1 weight-loss drugs in the out-of-hospital market. Some people also easily prescribed related drugs through e-commerce channels. In addition, some medical estheticians exaggerate the efficacy of related drugs on social media.
Some investors told the First Financial reporter that if the abuse of GLP-1 weight-loss drugs is serious, it is bound to lead to stricter regulation.
Huadong Medicine insiders told the first financial reporter that the company's liraglutide injection has been sold in hundreds of large hospitals in China, and the number is still growing rapidly. In addition, the company is also actively laying out the market outside the hospital, including online platforms and offline pharmacies. The top 100 domestic chains have basically completed the development and coverage, or have completed communication and negotiation, and are actively distributing goods.
"The company always strictly abides by laws and regulations and the requirements of integrity and self-discipline in production and business activities. Liraglutide injection is prescribed and requires a doctor's prescription to purchase and use. Even if it is promoted in medical aesthetic institutions, patients need a prescription from a medical aesthetic doctor with prescription rights before they can buy it." East China medicine insiders say so.