The company Innovent Biologics Inc., based in Suzhou in China, received approval for its treatment mazdutide last week, reports the news agency Bloomberg.
With over 600 million Chinese adults expected to be overweight by 2050, the development of a domestic alternative to Novo Nordisk and Eli Lily's best-selling GLP-1 treatments can make weight loss medications more accessible in the world's second-largest economy.
Analysts estimate that the market for weight loss medications can grow to between 5.6 and 11.4 billion dollars per year, equivalent to between 53 and 107 billion kronor.
According to LEK Consulting, there are more than 30 drug candidates for obesity in late-stage development in China. Several companies have already licensed their drugs to American or European pharmaceutical manufacturers such as Astra Zeneca and Merck for further clinical development outside the country.
