Novo Nordisk, Eli Lilly face first major obesity drug rival in China as Innovent gains approval for mazdutide

Novo Nordisk (NVO) and Eli Lilly & Co. (NYSE:LLY), the global leaders in obesity medications, are now facing their first major competitor in China.

Suzhou-based Innovent Biologics (OTCPK:IVBIY) (OTCPK:IVBXF) gained regulatory approval last week for its obesity treatment, mazdutide—a significant milestone in China’s push to tackle rising obesity and diabetes rates through homegrown innovation.

Innovent first licensed mazdutide from Lilly (NYSE:LLY) in 2019, when the drug was in mid-stage testing. The Chinese company ran large clinical trials suggesting that in local patients, it appeared just as effective as Lilly’s (LLY) bestselling Zepbound in helping patients lose weight.

“The approval of mazdutide was mainly based on data from GLORY-1, a Phase 3 pivotal clinical study conducted in Chinese adults with overweight or obesity. The primary endpoint and all key secondary endpoints of the study were successfully achieved in 2024,” the company said.

“Results showed that at weeks 32 and 48, the percentage of body weight reduction from baseline and the proportions of participants with a body weight reduction of ≥5%，≥10% and ≥15% in the mazdutide 4 mg group and mazdutide 6 mg group were superior to those of the placebo group.”