Pfizer adds to obesity bet with up to $2.1 billion deal to develop Chinese company’s pill

CNBC December 9, 2025
Annika Kim Constantino

Key Points

– Pfizer said it has struck an up to $2.1 billion licensing deal with YaoPharma to develop and commercialize its obesity pill, furthering the pharma company’s push into the weight loss space.

– YaoPharma’s oral drug works by targeting the same gut hormone, GLP-1, as Novo Nordisk’s blockbuster weight loss injection Wegovy, but the pill is still in early-stage development.

– The deal will help Pfizer beef up and diversify its obesity drug pipeline following its $10 billion acquisition of obesity biotech Metsera last month.

Pfizer on Tuesday said it has struck an up to $2.1 billion licensing deal with YaoPharma to develop and commercialize its obesity pill, furthering the pharmaceutical company’s push into the weight loss...

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