The brief

Analyst view

• GLORY-2 Phase 3: mazdutide 9 mg achieved 18.55% weight loss vs 3.02% placebo at 60 weeks.
• China approvals: June 2025 (weight management), September 2025 (type 2 diabetes).
• Eli Lilly retains global rights outside China; conducting Phase 3 trials for Western markets.

Technical approach

As reported

Dual receptor agonism

GLP-1 and glucagon activation

Dual agonism increases energy expenditure via glucagon, adding efficacy beyond GLP-1-only agents.

China-first development

Fast regulatory pathway

Innovent achieved rapid China NMPA approval by tailoring Phase 3 trials to Chinese populations.

Eli Lilly partnership

Co-development and licensing

Mazdutide is co-developed with Eli Lilly, which retains global rights outside China and is advancing its own Phase 3 programs in Western markets.