China approves Pfizer GLP-1 drug for weight management

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil prices dip after 5-day winning streak; set for weekly surge on Iran conflict Trump replaces Homeland Security chief Kristi Noem Wall Street ends lower on escalating Iran conflict, report of AI export curbs Trump says he must be involved in selecting Iran’s next leader (South Africa Philippines Nigeria) China approves Pfizer GLP-1 drug for weight management By Economy Published 03/06/2026, 12:46 AM Updated 03/06/2026, 12:48 AM China approves Pfizer GLP-1 drug for weight management 0 PFE -0.04% NVO 1.48% 1801 5.93% SHANGHAI, March 6 - China has approved Pfizer ’s GLP-1 treatment Xianweiying for long-term weight management in overweight or obese adults, the US drugmaker said on WeChat on Friday, boosting competition in a market analysts expect to be worth billions in coming years.The injection belongs to the class of GLP-1 receptor agonist drugs sold locally by drugmakers such as Novo Nordisk , Eli Lilly, and Innovent Biologics . "This marks a breakthrough in field of weight management," Sciwind Biosciences, from which Pfizer licensed mainland China commercialisation rights in February, said on its website. Sales of Novo’s Wegovy on Alibaba’s Tmall e-commerce platform and JD.com were 260 million yuan ($38 million) in 2025, against 416 million ($61 million) for Innovent’s Xinermei, investment bank Jefferies said in a note. In February, Pfizer licensed the mainland China commercialisation rights for Xianweiying, also known as ecnoglutide, from Sciwind, based in the eastern city of Hangzhou. That deal was "an important first step to advance Pfizer’s global strategy in the metabolic field in China", Sciwind said in a previous statement. Ecnoglutide is also approved in China as a treatment for Type II diabetes. A Pfizer spokesperson did not immediately respond to a request for comment on pricing and a China launch date.