Obesity Drug Landscape by Mechanism
Every obesity drug we track, grouped by how it works: GLP-1 and incretin agonists, dual and triple agonists, amylin analogues, oral small molecules and earlier-stage mechanisms.
Incretin agonists (GLP-1 / GIP)
- Semaglutide — Novo Nordisk (approved)
- Tirzepatide — Eli Lilly (approved)
- MariTide — Amgen (p3)
- VK2735 (SC) — Viking (p3)
Dual / triple agonists
- Retatrutide — Eli Lilly (p3)
- VK2735 (oral) — Viking (p2)
- Pemvidutide — Altimmune (p2)
Oral small molecules
- Foundayo (orforglipron) — Eli Lilly (approved)
- Wegovy pill — Novo Nordisk (approved)
- Aleniglipron — Structure (p2)
Amylin
- Petrelintide — Zealand (p2)
- CagriSema — Novo Nordisk (p3)
- Next-gen amylin — Metsera (p1)
Early-stage biotech
- MET-097i — Metsera (p3)
- Metabolic — Fractyl (pre)
- Oral GIPR — Terns (pre)
Digital / device therapeutics
- Behavioral — Noom (approved)
- Digital care — Omada (approved)
- Metabolic — Hinge Health (approved)
Diagnostics & lab
- Metabolic panel — Labcorp (approved)
- GLP-1 monitoring — Quest (approved)
- 2023 · Roche → Carmot (~$2.7B → ~$3.1B) — Roche's entry into obesity - acquiring the CT-388 dual agonist. $2.7B upfront plus up to $400M in milestones.
- 2023 · Eli Lilly → Versanis (~$1.9B) — Bimagrumab — muscle preservation alongside weight loss, complements tirzepatide.
- 2025 · Zealand → Roche ($1.65B → ~$5.3B) — Petrelintide (amylin) global partnership - big-pharma backing for a challenger. $1.65B upfront; the rest is development and sales milestones.
- 2025 · Pfizer → Metsera (~$7B → ~$10B) — Pfizer returns to obesity - winning Metsera ahead of Novo. Closed Nov 2025 at ~$7B enterprise value plus a contingent value right.
- 2026 · Vertex → Crinetics (~$10B) — Metabolic/endocrine expansion - sparked an M&A wave across the sector. Announced Jul 2026; not yet closed. The acquired assets target rare endocrine disease, not obesity.