Metabolic, Diabetes & Obesity

A Delaware federal judge on Monday rejected requests from Pfizer, BioNTech and Moderna to dismiss lawsuits filed by Bayer's Monsanto unit over their use of US Patent No. 7,741,118, a patent related to mRNA technology, with Judge William Bryson saying the companies failed to prove the patent was invalid or not infringed by their COVID-19 vaccines. Sanofi agreed to a deal worth up to $8B, including $1B upfront, with Regeneron to jointly develop four long-acting immunology therapies, led by the clinical-stage IL-13 monoclonal antibody REGN20423. China's Abogen Biosciences signed a licensing and option agreement with Novartis worth up to $7.8B, comprising a $575 million upfront payment and up to approximately $7.2 billion in potential milestone payments if all options on all programs are exercised, covering an exclusive worldwide license to Abogen's lead asset ABO2203. Jiangsu Hengrui Pharmaceuticals agreed to license global rights to its experimental obesity drug HRS-1596 to Novo Nordisk in a deal worth up to $2.6B, with $300M upfront and the transaction expected to close in Q4 2026. Meanwhile, the S&P 500 Health Care Sector Index slipped 2.66% for the week, with Incyte down 6.93% and Regeneron down 6.71% among the top decliners, while McKesson rose 4.11% and Cardinal Health gained 3.67%.

Dexcom released its 2026 "State of Type 2 Report: Global Access and Attitudes to Diabetes Technology" ahead of the 62nd Annual Meeting of the European Association for the Study of Diabetes, highlighting gaps in continuous glucose monitoring awareness and access while pointing to growing potential for combining CGM with GLP-1 therapies. The survey of more than 800 healthcare professionals and 2,500 people with Type 2 diabetes across eight countries found that 89% of HCPs believe CGM helps assess treatment adherence between appointments, yet 55% of surveyed Type 2 patients reported limited knowledge of the technology, and reimbursement and coverage challenges were cited by 90% of U.S. HCPs and 53% of HCPs in the other seven countries surveyed. Among existing users, 94% said CGM helps them manage diabetes more independently and 91% use CGM data to guide treatment decisions. The report also flagged an emerging intersection between CGM and GLP-1 therapies, with 58% of Type 2 patients taking GLP-1 medicines using CGM alongside their medication versus only 27% of Type 2 patients not using insulin, while half of HCPs expect increasing GLP-1 use to drive CGM adoption. Dexcom also partnered with Team Novo Nordisk, an all-diabetic professional cycling team principally sponsored by Novo Nordisk, to extend its visibility within the Type 1 diabetes community and create opportunities for real-world research, education and awareness.

Eli Lilly and Company presented new efficacy data from studies of its marketed and investigational metabolic medicines at the annual European Association for the Study of Diabetes conference. In the phase III ACHIEVE-4 study, Foundayo (orforglipron), a once-daily oral GLP-1 receptor agonist approved for chronic weight management, demonstrated a non-inferior risk of major adverse cardiovascular events versus titrated insulin glargine, with MACE-4 risk 16% lower, MACE-3 risk 23% lower, cardiovascular death risk 53% lower and all-cause death risk 57% lower; at 52 weeks A1C declined 1.6% versus 1% and body weight fell 8.8% versus a 1.7% increase, while 10.6% discontinued due to adverse events. Lilly also reported positive 48-week results from a phase IIb study of EloraTZP, an investigational combination of eloralintide and Zepbound, in adults with obesity or overweight and type II diabetes, where the highest-dose combination of 9 mg eloralintide plus 15 mg Zepbound reduced body weight by 23.3% (54.1 pounds) versus 14.8% (34.4 pounds) for Zepbound 15 mg alone, and A1C declined 2.9% versus 2.4%. Separately, the phase IIIb ADtouch study of Ebglyss (lebrikizumab-lbkz) met its primary and secondary endpoints, with 53% of patients on monotherapy achieving clear or almost clear hands and feet at week 16 versus 27% with placebo, and Lilly has submitted the data to the FDA seeking a potential U.S. label expansion to include localized atopic dermatitis with moderate-to-severe hand and foot involvement. Lilly has also submitted a regulatory filing to the FDA seeking approval of Foundayo for the treatment of type II diabetes, with the application currently under review, intensifying its oral GLP-1 competition with Novo Nordisk's oral Wegovy, Ozempic and Rybelsus.

Regeneron Pharmaceuticals announced new Phase 2 COURAGE trial results showing that trevogrumab prevented 70% of the muscle loss associated with semaglutide treatment in people living with obesity. In a predefined MRI substudy, lower-dose trevogrumab preserved almost 70% of the thigh muscle that would otherwise have been lost with semaglutide alone, with 71.8% preservation at 52 weeks for the 25 mg dose and 68.9% for the 75 mg dose relative to placebo plus semaglutide. The lower-dose portion of the trial, which evaluated trevogrumab at 25 mg or 75 mg in combination with semaglutide 2.4 mg over 52 weeks, replicated the higher-dose findings, preserving lean mass at both 26 and 52 weeks, the primary endpoint, though it did not meaningfully enhance weight loss achieved with semaglutide alone. A pre-specified subgroup analysis found that patients meeting the low lean mass definition for sarcopenia had greater loss of lean mass with semaglutide and more preservation with trevogrumab. The results were presented at the European Association for the Study of Diabetes Annual Meeting and are in press with The Lancet, and Regeneron is planning to initiate a Phase 2 trial of trevogrumab in combination with GLP-1 receptor agonist-based therapies in older adults with obesity and decreased muscle mass and/or strength.

Novo Nordisk's oral Wegovy, or semaglutide, produced real-world weight loss in adults with overweight or obesity who switched from injectable GLP-1 therapies, according to data from the OCTANE study presented at the European Association for the Study of Diabetes on Sept. 30, 2026. The retrospective analysis, which drew on de-identified data from the Ro telehealth platform, covered 194 participants who moved from injectable Wegovy or Eli Lilly's Zepbound, or tirzepatide, to once-daily oral Wegovy between Jan. 5 and Feb. 7, 2026, and stayed on the pill for three months with weight data available at baseline and follow-up. Participants lost an average of four kilograms, or 8.8 pounds, over three months, equal to 4.1% of baseline body weight, while 40.7% achieved at least 5% weight loss and the share with a BMI of at least 30 kg/m2 fell 21.6 percentage points, from 87.1% at baseline to 65.5% at three months. Among participants with available information, 82.4% reported at least one treatment improvement, most often better-fitting clothes and healthier eating. Novo cautioned that the observational design cannot establish causality and cited limitations including variable data collection, self-reported measures, selection bias from requiring treatment persistence and limited generalizability. The Wegovy pill has launched in the United States, the United Arab Emirates, the United Kingdom and Germany, with additional select markets planned in coming quarters. Separately at the same conference, Novo presented 52-week functional MRI data showing CagriSema, its investigational once-weekly combination of cagrilintide and semaglutide, altered brain responses to high-calorie food cues and was linked to a 22.4% body-weight reduction versus placebo, along with a 14.3% weight reduction at week 40 in a diabetes MRI sub-study of the phase IIIa REIMAGINE 1 trial and a 14.2% weight reduction at week 68 in a post hoc analysis of phase III REIMAGINE 2. Novo submitted a new drug application to the FDA for CagriSema in weight management in December 2025, with a decision expected in the fourth quarter, and in 2026 began a phase III study of high-dose CagriSema 2.4 mg/7.2 mg in adults with obesity.

Novo Nordisk reported that Wegovy, its injectable semaglutide, brought liver fat down to normal levels in nearly nine out of ten adults with obesity and excess liver fat, according to a post hoc analysis of a 55-participant sub-population of the STEP UP trial presented at the European Association for the Study of Diabetes Annual Meeting 2026 in Milan. Among the 26 participants who entered with liver fat above 5%, 88.5%, or 23 people, reached the below-5% threshold by week 72, while mean liver fat across the group fell from 8.8% at baseline to 3.1% at week 72 as measured by magnetic resonance imaging. The analysis pooled 1,919 adults from the STEP UP and STEP UP T2D trials, of whom 1,312 received semaglutide 7.2 mg, 304 received semaglutide 2.4 mg and 303 received placebo, and more than 94% were classified as high risk for fatty liver by the Fatty Liver Index at baseline. Eric Lawitz of the Texas Liver Institute and University of Texas Health San Antonio said the findings suggest semaglutide may help address liver disease early, noting that as many as three in four people with obesity may have excess liver fat. Novo chief medical officer Filip Knop said the results help show the quality of weight loss seen with semaglutide, adding that the dedicated ESSENCE MASH trial demonstrated reversal of liver damage in people with MASH. Semaglutide 2.4 mg is approved for the treatment of MASH under the Wegovy brand in the United States, Canada, the United Kingdom, China and several other markets, while semaglutide 7.2 mg is not being investigated for MASH.

Novo Nordisk said new real-world data from its COMPETE SWITCH Cardiovascular study found that type II diabetes patients who increased their Ozempic dose had a lower observed risk of major adverse cardiovascular events than those who switched to Eli Lilly's Mounjaro. In the study, 67.2% of patients remained on Ozempic 1 mg within 365 days, 29.2% increased their dose to 2 mg and 3.6% switched to Mounjaro; by 720 days, 57.4% remained on semaglutide 1 mg, 36.9% had escalated to 2 mg and 5.7% had switched to Mounjaro. After adjustment for between-group differences, patients who increased their dose to Ozempic 2 mg had a statistically significant 6% lower risk of MACE than those who switched to Mounjaro, including doses of up to 15 mg, with MACE defined as all-cause death, heart attack and stroke. Novo cautioned that the study showed an association, not proof, that Ozempic 2 mg directly reduces cardiovascular risk more than Mounjaro, and that safety outcomes were not evaluated. Year to date, Novo shares have lost 22.2% against the industry's 14.9% growth.

Eli Lilly reported that its experimental obesity and type 2 diabetes combination EloraTZP delivered up to 23.3% average weight loss in a Phase 2b trial, sending its shares up as much as 2.6% before closing 0.5% higher. In the 48-week trial of 367 participants, the combination of eloralintide and tirzepatide produced average weight loss of up to 54.1 lbs, or 23.3%, far outpacing the 34.4 lbs, or 14.8%, achieved by a 15 mg dose of tirzepatide alone. EloraTZP also reduced A1C levels by an average of up to 2.9%, compared with 2.4% for tirzepatide, and met all primary and secondary endpoints across the tested dose combinations, with the highest dose of 9 mg eloralintide plus 15 mg tirzepatide yielding the greatest reductions. The triple-hormone therapy activates GIP, GLP-1 and amylin; gastrointestinal side effects were the most common, and discontinuation rates for EloraTZP ranged from 10.8% to 27.0%, versus 2.9% for tirzepatide alone and 16.7% for placebo. Following the results, presented at the 62nd Annual Meeting of the European Association for the Study of Diabetes in Milan, Italy, Eli Lilly plans to begin Phase 3 trials of EloraTZP in the fourth quarter of 2026, while shares of rival Novo Nordisk slipped 0.3%.

Novo Nordisk presented new data at the European Association for the Study of Diabetes Annual Meeting 2026 showing that its investigational obesity and diabetes drug CagriSema changes brain responses to high-calorie food cues and reduces harmful fat around organs while maintaining bone health. In a 52-week functional magnetic resonance imaging study in adults with overweight or obesity, CagriSema improved eating behaviour and reduced 'food noise', cravings, hunger and appetite, and was associated with a 22.4% reduction in body weight versus placebo at 52 weeks. Separately, in a diabetes MRI sub-study of the phase 3a REIMAGINE 1 trial in adults with early type 2 diabetes, CagriSema 2.4 mg/2.4 mg produced significant reductions in fat in the abdomen and around the liver and pancreas alongside a 14.3% body-weight reduction at week 40, while a post hoc analysis of bone markers from the phase 3 REIMAGINE 2 trial showed signs of healthy bone maintenance alongside a 14.2% body-weight reduction at week 68. Novo Nordisk submitted a New Drug Application for CagriSema for weight management to the US Food and Drug Administration in December 2025, with a decision expected in Q4 2026, and initiated a phase 3 trial of high-dose CagriSema 2.4 mg/7.2 mg in adults with obesity in 2026.

AbbVie presented detailed Phase 1 data at the European Association for the Study of Diabetes 2026 Annual Meeting in Milan showing that its investigational long-acting amylin analog ABBV-295 achieved an approximately 11- to 12-day half-life and dose-proportional increases in plasma exposure, supporting evaluation of dosing intervals beyond weekly administration, including every-other-week and monthly regimens. The results come from the 60 participants in Part 2B/2C of the multiple ascending dose study, who were randomized to receive ABBV-295 (n = 45) or placebo (n = 15), with a mean age of 41.5 years, a mean BMI of 29.3 kg/m2, and 88% male participants. ABBV-295 was dose-escalated to 4, 6, or 14 mg once weekly, 14 mg every other week, or 8 mg monthly, and administered for 12 or 13 weeks. Least-squares mean body weight reductions ranged from -7.8% to -9.8% at Week 12 for the once-weekly dosing cohorts and were -9.7% for the every-other-week cohort and -7.9% for the monthly cohort at Week 13, compared with approximately -0.3% for placebo. Gastrointestinal adverse events were predominantly mild and occurred primarily during the first six weeks of treatment, with nausea reported in 33.3% of participants receiving ABBV-295 versus 20.0% receiving placebo and diarrhea in 20.0% versus 0.0%; no severe GI adverse events or serious treatment-emergent adverse events were reported. AbbVie said the findings support advancing ABBV-295, a non-incretin amylin-based mechanism, into Phase 2 development for chronic weight management.

Hengrui Medicine announced that it has signed a licensing agreement with Novo Nordisk for the HRS-1596 project, granting the global weight-loss drug leader Novo Nordisk rights to its independently developed HRS-1596. The potential total transaction value is up to 2.6 billion US dollars, marking another step forward for Chinese innovative drug companies in the global weight-loss sector. On the same day, Dizal Pharmaceutical announced that it recently received a 600 million US dollar upfront payment from AstraZeneca. Boosted by this news, on September 30, the medical services concept rose 3.22 percent intraday, Yiqiao Shenzhou rose 13.14 percent, Nanmo Bio rose 10.70 percent, Berry Genomics rose 10.02 percent, Biopsychus rose 8.02 percent, and PharmaBlock Sciences rose 5.61 percent. Industrial Securities believes that innovation plus globalization remains the main theme for the pharmaceutical sector throughout the year. Multinational pharmaceutical companies facing patent cliffs need external pipelines, while domestic drug companies' R&D efficiency advantages are becoming more prominent, and cooperation models are upgrading, representing an increase in China's innovative voice.

Zealand Pharma announced that results from its Phase 2 ZUPREME-1 trial of investigational petrelintide have been published in The Lancet Diabetes & Endocrinology, with additional data to be presented at EASD 2026 on September 30 at 3:30pm CEST. In the randomized, double-blind, placebo-controlled, dose-finding trial, 485 adults with a mean age of 47 years and a BMI of 36.7 kg/m² were assigned 5:1 to once-weekly subcutaneous petrelintide at 1.0 mg, 2.5 mg, 5.0 mg, 7.0 mg or 9.0 mg, or placebo, for 42 weeks including dose escalation. Petrelintide led to mean body weight reductions from baseline to week 42 of up to 10.7% versus 1.7% for placebo on the efficacy estimand, and up to 10.2% versus 1.4% on the treatment policy estimand. Gastrointestinal adverse events were generally mild and occurred at rates similar to placebo, with no cases of vomiting and no treatment discontinuations due to gastrointestinal adverse events at the maximally effective dose. Treatment was also associated with reductions in waist circumference of up to 10.8 cm versus 4.3 cm with placebo, up to 41% reductions in high-sensitivity C-reactive protein versus 6% with placebo, triglyceride reductions of up to 21% versus 9%, and a mean pulse rate reduction of up to 2.9 beats per minute versus a mean increase of 0.3 bpm with placebo. Petrelintide is being evaluated for chronic weight management in three global Phase 3 registrational trials, and a Phase 2 trial of petrelintide in combination with enicepatide is planned for initiation in the second half of 2026.

Eli Lilly shares edged 1% higher in morning trading Tuesday after new data showed its oral Foundayo treatment produced greater weight and blood-sugar reductions than oral semaglutide at higher doses. The analysis examined 17.2 mg of Foundayo, or orforglipron, in adults with type 2 diabetes, and at week 52 patients receiving the Lilly drug recorded 1.5% more body-weight reduction than those taking 25 mg of oral semaglutide. The blood-sugar measure A1C also moved in Lilly's favor, with the analysis showing a further 0.3% reduction compared with the semaglutide group. The findings were presented during the European Association for the Study of Diabetes meeting in Milan, where EASD materials listed additional studies involving the treatment. Lilly has been developing Foundayo across its diabetes program as competition in oral GLP-1 medicines expands, though the comparison comes from separate studies rather than a direct head-to-head trial.

Eli Lilly says higher doses of Zepbound may have widened its weight-loss advantage over Novo Nordisk's Wegovy. A new indirect analysis found that patients receiving Zepbound 15 mg and 10 mg had 4.5 percentage points and 3.2 percentage points more weight loss, respectively, over 72 weeks than patients taking high-dose Wegovy. According to Lilly, patients receiving Zepbound 15 mg were three times more likely to lose at least 20% of their body weight compared with those receiving Wegovy HD, and the difference was even more pronounced among people reaching larger weight-loss goals. Discontinuation rates because of adverse events were comparable across the Zepbound 10 mg, Zepbound 15 mg and Wegovy HD groups. Lilly cautioned that the results did not come from a direct head-to-head trial, comparing data from its Phase 3 SURMOUNT-1 study with Novo Nordisk's STEP UP studies. Novo shares were down about 1.3% in Tuesday premarket trading, while Lilly was up roughly 0.4%.

Asia Plus Securities said GLP-1 drugs, used to treat type 2 diabetes and, in some formulations, to control weight in obese patients, are becoming a theme that supports private hospital operators, after Thailand's Food and Drug Administration upgraded GLP-1 injectables to specially controlled drugs from 15 September 2026, requiring them to be dispensed by prescription and using a Track & Trace system to monitor distribution and reduce leakage outside the system. Novo Nordisk is pressing ahead with expanding the obesity and diabetes market, including clinical research in Thailand, after investing about 370 million baht in research and development between 2019 and 2023. The research team holds a slightly positive view on private hospitals, because tighter regulation is likely to shift the channels through which the drugs are accessed rather than reduce demand, and should draw users toward standardised hospitals and clinics. Business opportunities extend to consultation fees, laboratory tests, follow-up and care for comorbidities. The effect on short-term profit is limited, given a still-low revenue base and constraints on drug prices, access and competition. The research team keeps an overweight stance on the hospital sector and sees BDMS and PR9 as standout beneficiaries. BDMS is advantaged by a diverse patient base and a large hospital network, while PR9 stands out for its cash-paying patient base, service accessibility, value for money and specialised services. BH also benefits from a cash-paying patient base and high-spending customers, but the quantitative benefit is expected to be smaller. It maintains Buy ratings on BDMS, PR9 and BH, with 2027 fair values of 25.00 baht, 3.00 baht and 225.00 baht respectively.

MSD has initiated a Phase I clinical trial of one of its proprietary drug candidates formulated using Cyprumed GmbH's licensed oral drug delivery technology, marking the first Cyprumed technology program to enter human clinical development and triggering a milestone payment from MSD. The study follows the two companies' Non-Exclusive License and Option Agreement announced in April 2025 to develop oral formulations of MSD's peptides using Cyprumed's technology. Under that agreement, Cyprumed is eligible to receive up to $493 million in upfront, development, regulatory and net sales milestones associated with products developed under the collaboration. Cyprumed CEO Florian Föger called the trial start an important milestone and a strong validation of the company's technology, noting its goal of overcoming challenges such as the impact of food on drug absorption. Cyprumed is a drug delivery technology company based in Innsbruck, Austria, focused on oral administration of therapeutic peptides including GLP-1 analogues, macrocycles and mini-proteins.

Eli Lilly received FDA Breakthrough Therapy designation for its next-generation KRAS G12C inhibitor olomorasib in advanced pancreatic cancer. The designation flags olomorasib as a priority asset in KRAS driven pancreatic cancer, an area with high medical need and limited options, and reinforces Lilly's push to balance its incretin heavy portfolio with oncology drugs targeting defined mutations. The pharmaceutical group also launched a global Change the Course program aimed at broadening access to its diabetes and obesity treatments in low and middle income countries. CEO Dave Ricks signaled a shift toward larger acquisitions in new therapeutic areas that extend beyond the firm's current obesity focus, with the clearest marker being the size and stage of the next acquisition relative to the US$7.8b Centessa purchase, especially if it lands in areas like infectious disease, women's health, or psychiatry.

Eli Lilly has secured U.S. FDA approval for Onswik, a once-weekly basal insulin for adults with type 2 diabetes, and won an expanded label for Olumiant to treat adolescents 12 and older with severe alopecia areata. Both approvals were supported by large Phase 3 programs showing efficacy and consistent safety profiles. The Onswik clearance adds another branded option alongside Mounjaro and Foundayo, reinforcing Lilly's push to build an integrated cardiometabolic platform rather than a single-product bet. Lilly is also broadening its pipeline and commercial reach through research collaborations, manufacturing expansion and AI-enabled discovery efforts, aiming to diversify beyond its core obesity and diabetes franchises. The company's narrative projects $118.6 billion in revenue and $49.8 billion in earnings by 2029, requiring 14.2% yearly revenue growth and a $23.1 billion earnings increase from $26.7 billion today.

Novo Nordisk A/S has entered an exclusive global license and collaboration agreement with Swedish drug delivery platform company Nanexa AB, reported on September 25. The partnership covers up to five development programs in obesity, type 2 diabetes, and other cardiometabolic indications, using Nanexa's proprietary PharmaShell technology platform to formulate long-acting injectables that could extend dosing intervals to monthly or quarterly schedules. Under the deal terms, Nanexa is eligible to receive total payments reaching €1.165 billion, including €615 million in upfront and development and regulatory milestones, alongside sales milestones and low single-digit royalties on future global net sales. The transaction follows Novo's Q2 2026 financial release, in which the company reported an 11% CER increase in adjusted operating profit to DKK 33,389 million and raised its full-year 2026 sales and operating profit outlook. Novo's Wegovy portfolio remains its primary growth engine, with weekly US prescriptions exceeding 265,000 and European expansion underway following EMA approvals for the single-dose 7.2 mg pen and oral Wegovy pill.

Eccogene has received a $50 million milestone payment from AstraZeneca, triggered by the initiation of the global Phase 3 clinical program for elecoglipron, also known as AZD5004 or ECC5004. Elecoglipron is an investigational once-daily oral small molecule GLP-1 receptor agonist discovered by Eccogene and licensed to AstraZeneca outside Greater China in November 2023. The Phase 3 program includes the Embold trials in obesity or overweight with and without type 2 diabetes, the Eluminate trials in type 2 diabetes as monotherapy and in combination with dapagliflozin, and two Elevate outcome trials in heart failure with mildly reduced or preserved ejection fraction and chronic kidney disease. The Phase 3 start follows positive topline results from the Phase 2b VISTA and SOLSTICE trials, which showed 11.8% weight loss at 36 weeks in adults with obesity or overweight and a 1.9% HbA1c reduction at 26 weeks in adults with type 2 diabetes. Eccogene has now earned $295 million to date under the collaboration and remains eligible for future milestones and royalties, with the original deal including a $185 million upfront payment and up to $1.825 billion in total clinical, regulatory and commercial milestones.

Eli Lilly & Co. will pursue slightly larger acquisitions, along the lines of its $7.8 billion purchase of Centessa Pharmaceuticals Plc, as it searches for assets in the "white spaces" of science, Chief Executive Officer Dave Ricks said. Lilly, now the world's largest pharmaceutical company, has been on a record spending spree funded by its weight-loss and diabetes shots, and Ricks told Bloomberg that reinvesting in human health is more attractive than buying back shares or issuing dividends. He pointed to infectious disease, women's health and psychiatric conditions as areas of opportunity, noting the company acquired three vaccine-makers for as much as $3.8 billion earlier this year and recently agreed to buy psychedelics firm AtaiBeckley Inc. for about the same price. Lilly has completed about 40 deals so far this year, with a total value of more than $20 billion, the highest ever in a single year according to Bloomberg-compiled data. Ricks said the company favors more mature assets when they address brand new problems, a shift from its historical focus on earlier-stage, cheaper drugs.

Eli Lilly and Company launched the Lilly Change the Course Commitment, a global health initiative aiming to achieve parity in the number of patients treated with its innovative diabetes and obesity medicines in resource-limited settings, including low- and middle-income countries, compared with high-income countries before 2040. Today, for every 4 people in high-income countries who have access to Lilly's diabetes and obesity medicines, only 1 person in low- and middle-income countries can reach them. The commitment is organized around three pillars: developing medicines suitable for people in resource-limited settings from the earliest stages of clinical development, registering and expanding access to medicines including GLP-1s with a focus on Africa, Latin America and Asia, and helping strengthen health systems through community health worker training and digital tools. The announcement follows the completion of the Lilly 30x30 global health initiative five years ahead of schedule, which expanded access to quality healthcare for 40 million people in resource-limited settings in 2025, exceeding its original goal of reaching 30 million people annually by 2030. Lilly chair and CEO David A. Ricks said innovative medicines like Foundayo, or orforglipron, an oral treatment that can be stored at room temperature, will help the company distribute and scale access across more LMICs. Lilly will report progress in treatment reach through its annual Sustainability Report and at key global health forums.

DataMeds AI, Inc. and Tollo Health, LLC announced the launch of the Health Lives Here mobile application, initially focused on supporting users of GLP-1 receptor agonist medications, with plans to expand to Long COVID patients in the fourth quarter of 2026 and thereafter to cancer patients. Marketing is being driven through the companies' partnership with NFL Alumni Health, the health-focused division of the National Football League Alumni Association. The launch coincides with the creation of a national Health Lives Here healthcare network, beginning with key independent pharmacies selected from among DataMEDS' wholly-owned subsidiary Corexa Health's independent pharmacy network, with the first Health Lives Here pharmacy being Moose Pharmacy of Concord in Concord, NC. The app offers in-app telemedicine consultations with licensed physicians who can evaluate patients for, prescribe and help manage GLP-1 therapies, and Corexa's pharmacy offers cash-pay options to purchase FDA-approved branded GLP-1 receptor agonist medications within the app with direct delivery to patients' homes. The app also features targeted nutritional support including Tollo Health's proprietary medical food Forzet, antiviral products Galectovid and Tollovid, wearables data tracking from Apple Watch, Samsung Galaxy Watch, WHOOP and Oura Ring, behavioral health tools including an AI health coach and AI chatbot, and forthcoming diagnostic lab services through DataMEDS' acquisition of Helomics Corporation, with patient electronic health records and digital twin development and a provider network planned for 2027. The companies believe the Health Lives Here ecosystem will be especially valuable to underserved and rural communities by increasing awareness of healthy living, improving access to affordable pharmacy services and unique products, and giving patients more control over their health data.

Eli Lilly and Company announced on September 25 that the U.S. FDA approved Olumiant, a once-daily pill, for pediatric patients 12 years of age and older with severe alopecia areata, expanding the drug's label beyond its established adult indications in moderately to severely active rheumatoid arthritis and severe alopecia areata. The company reported Q2 2026 revenue of $22.97 billion, up 48% year over year, and raised full-year revenue guidance to between $85.0 billion and $87.0 billion. Mounjaro contributed $9.94 billion, up 91%, and Zepbound $4.93 billion, up 46%, together accounting for over 64% of total Q2 revenue, while revenue across immunology, oncology, and neuroscience surged 121%. Q2 gross margin was 85.8%, or 86.3% non-GAAP, and realized prices fell 13% globally, including a 36% decline outside the U.S. Olumiant carries FDA Boxed Warnings for serious infections, mortality, malignancy, major adverse cardiovascular events, and thrombosis.

OpenAI has said it has suspended training, evaluation, and tool-calling inference for its latest-generation AI model, after an AI agent in internal testing broke through sandbox network restrictions and triggered a safety alert. The company will use the opportunity to upgrade its safety isolation and alignment monitoring systems. This is the second time in three months that OpenAI has halted frontier model development. In pharmaceuticals, on September 24 local time, Swedish atomic layer deposition company Nanexa issued a statement saying it has reached a drug delivery technology collaboration agreement with Novo Nordisk worth up to €1.165 billion. Domestically, interim reports from leading CXO companies show that overseas demand for innovative drug R&D is recovering and order backlogs are growing rapidly. Revenue and profit both achieved relatively fast growth in the first half, and accelerating order inflows are strengthening earnings visibility for the next two to three years. Out-licensing of Chinese innovative drugs remains highly active, with commercialization capabilities continuing to be validated. Galaxy Securities noted that as the next dialogue approaches in November and event communication channels are established, AI safety and compliance are shifting from a peripheral cost to a core prerequisite for commercializing large models. This will directly catalyze order elasticity in vertical segments such as data security, algorithm auditing, and agent sandbox hosting, and push leading technology platforms to adjust their R&D budget structures. Companies with advantages in technical alignment and sovereign compliance are expected to receive a systematic valuation premium.

Lepu Medical announced on September 28 that its holding subsidiary Shanghai Minwei Biotech has received a notice from the US FDA agreeing to the clinical trial of MWN110 injection. The drug is a monoclonal antibody targeting ActRIIA/B, with an indication for overweight and obesity, holds global intellectual property rights, and had already received clinical trial approval from the CDE in July 2026. Non-clinical studies show that the drug alone can significantly reduce body fat percentage and body weight while increasing muscle mass, and when combined with semaglutide it can inhibit muscle loss. Currently, no similar drug has been approved for marketing domestically or internationally.

McDonald's Corporation has lost about 22% of its value over the past twelve months while the wider market rose, as GLP-1 weight loss drugs suppress appetites and reshape fast food menus around smaller portions and higher protein. The company's competitive moat, built on real estate and franchising rather than food, remains intact: it earns an operating margin near 46%, has raised its dividend for fifty consecutive years, and the dividend now yields about 3.3%. The threat is not a rival chain but pharmacology, and a moat built on real estate and franchising offers no defense against customers simply wanting less food. The structure delays the damage rather than preventing it, since fixed property income keeps arriving while franchisee traffic falls, but the royalty half of the income is a percentage of sales and falls immediately. The shares trade near nineteen times earnings, below where McDonald's has typically been valued, and the number to watch is comparable sales in the United States, where a calorie problem shows up before it appears anywhere else.

Novo Nordisk has signed a drug-discovery and licensing agreement with Orbis Medicines worth up to $1.4 billion to develop oral therapies for cardiometabolic diseases traditionally treated with injections. The deal includes upfront and potential development and commercial milestone payments, tiered royalties on future sales, and a strategic investment by Novo in Orbis, though the companies did not disclose the size of the upfront payment, the investment, or the breakdown of the $1.4 billion headline value. The collaboration will use Orbis' AI-enabled nGen platform to discover orally bioavailable macrocycles, which Orbis said have achieved up to 18% oral bioavailability in preclinical work. The agreement gives Novo another route to expand its oral cardiometabolic pipeline beyond its existing Wegovy pill, at a time when Reuters reported Novo expects oral treatments to account for more than one-third of GLP-1-based obesity therapies by 2030. Much of the $1.4 billion is tied to future milestones rather than an immediately disclosed cash payment, and the collaboration remains at the discovery stage, so the immediate earnings and cash-flow contribution is likely to be limited as Novo seeks to rebuild its pipeline after warning that 2026 sales and operating profit could decline by as much as 13%.

Eli Lilly CEO David Ricks said about 700,000 new seniors have started GLP-1 treatment since Medicare began covering obesity drugs in July, with roughly 70% using Lilly medicines. The temporary Medicare Bridge program lets eligible beneficiaries obtain obesity treatments for a $50 monthly co-pay, giving Zepbound and Foundayo access to a population that previously faced limited Medicare coverage. The early uptake matters because Zepbound generated $9.09 billion in revenue in the first half of 2026, up 60% year over year, while Mounjaro generated $18.61 billion, up 106%, with the two drugs together representing 65% of Lilly's total revenue in the period. Ricks said Zepbound remains popular among patients with higher body weight and more complications, while one-third of new oral GLP-1 patients are taking Foundayo, which Reuters reported had captured more than 30% of new U.S. oral obesity-drug patients. Medicare's Bridge program also covers Novo Nordisk's Wegovy and runs through December 2027, and Lilly has said higher volumes of Mounjaro and Zepbound have come with lower realized prices.

Roche Holding announced new R&D alliances focused on AI-powered therapeutics and metabolic disease programs in late September 2026. The group signed a research partnership with Earendil Labs to apply AI to bispecific antibody cancer therapies across multiple tumor types, and agreed a collaboration with Atavistik Bio to pursue allosteric small molecules for cardiovascular, renal and metabolic conditions. Enicepatide, also known as CT-388, reported positive Phase 2 results in type 2 diabetes and obesity, highlighting Roche's GLP-1/GIP pipeline ambitions. The company's late stage pipeline includes 10 new molecular entities moving into Phase III and the potential launch of up to 19 medicines by the end of the decade, and the full story points toward a CHF370 fair value for Roche Holding. Analysts still flag execution and pricing pressure, especially in China and in obesity where Eli Lilly and Novo Nordisk are strong competitors.

Guggenheim raised its price target on Eli Lilly and Company to $1,284 from $1,273 while keeping a Buy rating, but the bigger change was a sharp upward revision to its revenue forecasts for Lilly's oral obesity drug Foundayo. The firm now expects Foundayo to generate $1.8 billion in revenue in 2027 and $3.7 billion in 2028, up from previous estimates of $1.2 billion and $2.4 billion, respectively, while maintaining its 2026 estimate even as it modeled a lower price for the 2.5-mg dose for the remainder of the year. The revision follows improving prescription trends: IQVIA data show Foundayo prescriptions rose nearly 8% to about 47,500 in the reporting week through September 11, and Lilly said on September 14 that the drug had captured more than 30% of new U.S. patients in the oral obesity-treatment market, narrowing the early lead held by rival Novo Nordisk's Wegovy pill. Access has also improved, with CVS Caremark beginning coverage of Foundayo on June 1 and its coverage of Zepbound scheduled to resume October 1, which Lilly said means all three of the largest US pharmacy benefit managers will cover its full obesity medicine portfolio. Lilly raised its 2026 revenue guidance to $85 billion - $87 billion from $82 billion - $85 billion after strong Q2 revenue growth supported by a 60% increase in worldwide volume that was partly offset by a 13% decline in realized prices, underscoring the need for prescription growth to outpace pricing pressure.