Pfizer will pay up to $2.1 billion to Fosun Pharma for rights to an experimental obesity drug, marking a trend in global pharmaceutical partnerships.
Pfizer has agreed to pay up to $2.1 billion to Fosun Pharma's unit, Yao Pharma, for the rights to an experimental oral obesity drug, according to a report by Hong Kong's South China Morning Post. This deal underscores a growing trend of Chinese drug makers selling early-stage assets to global multinationals.
Under the agreement, Yao Pharma will grant Pfizer exclusive worldwide rights to develop, manufacture, and commercialize oral small-molecule drugs known as GLP-1 receptor agonists. This includes YP05002 and any products containing such compounds as active ingredients.
GLP-1 therapies have become highly competitive in the global pharmaceutical market. Injectable drugs such as Novo Nordisk's Wegovy and Ozempic, along with Eli Lilly's Zepbound and Mounjaro, have already generated billions of dollars in annual revenue.
