How mazdutide compares against weight loss therapies from Novo Nordisk, Lilly

With the recent approval in China of Innovent Biologics’ (OTCPK:IVBIY) mazdutide as the first-ever dual GLP-1/glucagon receptor (GCP) for obesity, observers are already making comparisons of the drug to Novo Nordisk’s (NVO) Wegovy (semaglutide) and Eli Lilly’s (NYSE:LLY) Zepbound (tirzepatide), both established blockbusters in the weight loss category.

Incidentally, mazdutide was initially developed by Lilly and subsequently licensed to Innovent (OTCPK:IVBXF) for the Chinese market. The American drugmaker has mazdutide in phase 2 in the U.S.

China’s National Medical Products Administration approved mazdutide based on results from the phase 3 GLORY-1 trial that enrolled over 600 obese or overweight adults in China. Results showed that weight loss was dose-dependent, with those on the 4 mg dose losing an average of 12% of body weight at 48 weeks, while at 6 mg, the loss was 14.8%. In the placebo group, the figure was just 0.5%.

In a news release, Innovent noted that mazdutide has the additional benefit of lowering liver fat content. That could be a significant differentiator in China, where the incidence of fatty liver disease is estimated at 30% of the population.

By comparison, a head-to-head trial between Wegovy and Zepbound, conducted by Lilly and released in May, found that at 72 weeks, patients achieved an average weight loss of 20.2% with Zepbound vs. 13.7% with Wegovy. Zepbound is considered a dual glucose-dependent insulinotropic polypeptide (GIP)/GLP-1 inhibitor, while Wegovy is a GLP-1 inhibitor.

Novo, however, is eying a higher dose version of Wegovy that has shown improved weight loss. At the recent American Diabetes Association Scientific Sessions, data from the phase 3b STEP UP trial showed that a semaglutide dose of 7.2 mg — the currently approved dose is 2.4 mg — led to an average of 21% weight loss at 72 weeks, with a safety and tolerability profile similar to the lower dose version.

While both Zepbound and Wegovy are approved in China for weight loss, penetration of those two drugs hasn’t been that strong, despite one statistic that claims more than 600M Chinese will be obese by 2030.

Price is one drawback, though there are also indications that for Chinese firms, production capacity and better distribution channels could provide advantages. Also, in 2026, semaglutide’s patent expires in China which is expected to bring a flood of cheaper generic versions, and will likely put pressure on Novo and Lilly to lower the prices of their weight loss therapies.

Still, the outlook for mazdutide is robust. GlobalData has previously projected sales of $566M by 2029, with Evaluate giving an even more bullish projection of $1.3B by 2030.