APAC-Originated Obesity Drugs in the Clinic, Beyond Semaglutide

01 November 2026 | Sunday | Analysis

Thirty Asia-Pacific discovered assets are in registered human trials for obesity or weight management. Three reached a market in 2026, three more sit with China's regulator, and the region now supplies a striking share of the world's next-generation incretins. Here is every one, with the best weight-loss figure each sponsor has actually disclosed, and the week it was measured.

Obesity was the most searched therapeutic area of 2026, and for most readers the story still has two names in it. Semaglutide and tirzepatide set the benchmarks, the prices and the supply headlines. Yet the pipeline that will decide what comes after them looks increasingly Asian. By our count, 30 assets discovered by Asia-Pacific companies are in registered human trials for obesity or weight management as the year closes. Twenty-one of them originated in mainland China.

Several of those names are no longer pipeline at all. Orforglipron, the oral pill Chugai discovered and Eli Lilly took global, won US approval in April. Sciwind's ecnoglutide cleared China's National Medical Products Administration (NMPA) for weight management in March. Hanmi's efpeglenatide became Korea's first home-grown obesity drug in October. Behind them, three Chinese GLP-1/GIP dual agonists are waiting on the NMPA, and at least seven other assets have completed or are running Phase 3.

This year-end reckoning lists all 30. For each one we give the mechanism, whether it is swallowed or injected, its stage and a trial identifier, and the best weight change the sponsor has publicly disclosed, always with the week it was measured. Where no number has been released, we say so rather than estimate one.

-Inclusion had two tests. The originator, the company that discovered the molecule, had to be headquartered in Asia-Pacific. The asset had to have at least one registered human trial in obesity or weight management, on ClinicalTrials.gov, China's drug trial registry or an equivalent. Licensing a molecule out does not change its origin, so orforglipron counts as Japanese and olatorepatide as Chinese.

Efficacy appears only where it has been publicly disclosed, in a peer-reviewed paper, a congress presentation, an exchange filing or a company release. For each asset we report the figure from its most advanced completed trial at the longest disclosed timepoint, using the treatment-policy (or treatment-regimen) estimand where sponsors gave both. That estimand counts every randomised patient, including those who stopped the drug, and so runs lower than the efficacy estimand. Where only a placebo-adjusted figure exists, we label it. Figures are mean percentage change in body weight from baseline unless stated.

Excluded by design: semaglutide and other reformulations or generics of approved molecules, which belong to LI-03, and any discussion of these drugs as longevity agents, which LI-06 owns. Data are current to 31 October 2026.

Cross-trial comparison caveat

Read before comparing. These figures come from different trials with different doses, durations, populations, baseline body-mass index, estimands and placebo responses. Many Chinese trials enrol people with a lower average BMI than Western trials. Several figures are Phase 1 or Phase 2 results from small cohorts over a few weeks. No two points on this chart come from a head-to-head trial, and the chart does not rank the drugs.

Best disclosed mean weight change, by phase of the trial that produced it. Labels give the week of measurement. Hollow markers are placebo-adjusted figures; all others are unadjusted. Assets with no disclosed weight figure are not plotted. Sources: company releases, filings and publications listed below. Data to 31 October 2026.

Already through the door: approved in 2026

Three Asia-Pacific discovered molecules became medicines this year, each in a different market and each still running trials. Approval is not the end of their clinical story, which is why they open the list.

1 Orforglipron (Foundayo)
Originator	Chugai Pharmaceutical, Japan
Mechanism	Small-molecule GLP-1 receptor agonist
Route	Oral, once daily, no food or water restrictions
Stage and trial ID	Approved in the US, 1 April 2026; positive CHMP opinion in the EU, October 2026; filed in Japan, February 2026. ATTAIN-1, NCT05869903
Best disclosed weight change and week	‑11.2% at week 72 (36 mg trial dose, treatment-regimen estimand; placebo ‑2.1%). Efficacy estimand: ‑12.4%
Partner	Eli Lilly, global licence from 2018 (USD 50 million upfront plus milestones and royalties)
Note	The only Asia-Pacific discovered oral obesity drug on sale anywhere. Chugai began booking royalty income in Q2 2026.

2 Ecnoglutide (XW003)
Originator	Sciwind Biosciences, China
Mechanism	cAMP-biased GLP-1 receptor agonist
Route	Subcutaneous, once weekly
Stage and trial ID	Approved by the NMPA for chronic weight management, March 2026, after a type 2 diabetes approval in January. SLIMMER, NCT05813795
Best disclosed weight change and week	‑15.4% at week 48 (2.4 mg; placebo ‑0.3%). Primary endpoint at week 40: ‑13.2%
Partner	Pfizer China, mainland commercialisation (deal valued at up to USD 495 million)
Note	SLIMMER is published in The Lancet Diabetes & Endocrinology. The oral version is entry 20.

3 Efpeglenatide (HM11260C, Eppe)
Originator	Hanmi Pharmaceutical, Korea
Mechanism	Long-acting GLP-1 receptor agonist
Route	Subcutaneous, once weekly
Stage and trial ID	Approved by Korea's Ministry of Food and Drug Safety, October 2026. Korean Phase 3, NCT06174779
Best disclosed weight change and week	‑9.75% at week 40 (placebo ‑0.95%; placebo-adjusted ‑8.13%), per Hanmi's October 2025 topline. Approval coverage cites ‑9.02%, which appears to be a different analysis set
Partner	None. Sanofi licensed it for diabetes in 2015 and returned the rights in 2020
Note	Korea's first domestically developed obesity drug, positioned on tolerability; launch targeted by year end.

Waiting on Beijing: filed in China

Three Chinese GLP-1/GIP dual agonists have completed Phase 3 and sit with the NMPA. Their headline figures land within a point and a half of one another, between roughly 18% and 19% at about a year.

4 HRS9531 (ribupatide, KAI-9531)
Originator	Jiangsu Hengrui Pharmaceuticals, China
Mechanism	GLP-1/GIP dual receptor agonist
Route	Subcutaneous, once weekly
Stage and trial ID	NDA under NMPA review since September 2025. China Phase 3, NCT06396429; Kailera's global KaiNETIC Phase 3 programme began in 2026
Best disclosed weight change and week	‑17.7% at week 48 (6 mg, treatment policy); placebo-adjusted ‑16.3%
Partner	Kailera Therapeutics, ex-Greater China (three-asset package: USD 110 million upfront and near-term payments, up to USD 5.725 billion in sales milestones, 19.9% equity to Hengrui)
Note	Phase 2 at 8 mg reached ‑23.6% at week 36. A Phase 3 in obesity with knee osteoarthritis was cleared in July.

5 Olatorepatide (HS-20094)
Originator	Hansoh Pharmaceutical, China
Mechanism	Biased GLP-1/GIP dual receptor agonist
Route	Subcutaneous, once weekly
Stage and trial ID	NDA accepted by the NMPA, June 2026. LIGHTEN Phase 3, NCT06839664
Best disclosed weight change and week	‑18.7% at week 48 (15 mg, treatment-regimen; placebo ‑2.5%). Efficacy estimand: ‑19.3%
Partner	Regeneron, ex-mainland China, Hong Kong and Macau (USD 80 million upfront, up to USD 1.93 billion in milestones)
Note	An EASD 2026 late-breaker; Regeneron plans a global Phase 3.

6 BGM0504
Originator	BrightGene Bio-Medical Technology, China
Mechanism	GLP-1/GIP dual receptor agonist
Route	Subcutaneous injection
Stage and trial ID	NDA accepted by the NMPA, June 2026. Phase 3, NCT06704581
Best disclosed weight change and week	‑19.2% at week 52 (15 mg, full analysis set); placebo arm not disclosed in the release
Partner	None disclosed
Note	The largest Phase 3 number in this list, though the missing placebo figure limits comparison.

Phase 3 readouts in hand

Seven more assets have reported Phase 3 or have Phase 3 complete. This is where the oral class shows its shape: three Chinese pills, all once daily, landing between about 10% and 12.5% at 44 to 52 weeks.

7 Bofanglutide (GZR18)
Originator	Gan & Lee Pharmaceuticals, China
Mechanism	GLP-1 receptor agonist
Route	Subcutaneous, every two weeks; once monthly under test
Stage and trial ID	Phase 3: GRADUAL-1 complete; GRADUAL-2 head-to-head against semaglutide 2.4 mg; GRADUAL-3 monthly dosing, CTR20254659. US Phase 2, NCT06737042
Best disclosed weight change and week	‑18.54% at week 52 (48 mg every two weeks; placebo ‑1.11%)
Partner	Menarini, 39 European countries (EUR 62 million upfront, up to about USD 849 million in total)
Note	In the US Phase 2, 48 mg gave ‑15.18% at week 36 against ‑16.93% for open-label tirzepatide 15 mg.

8 HRS-7535 (KAI-7535)
Originator	Jiangsu Hengrui Pharmaceuticals, China
Mechanism	Small-molecule GLP-1 receptor agonist
Route	Oral, once daily
Stage and trial ID	China Phase 3 positive: HARBOR-1, NCT06904105. Kailera's global Phase 2 reads out in 2027
Best disclosed weight change and week	‑9.8% at week 44 (180 mg, treatment policy; placebo ‑2.4%). Efficacy estimand: ‑10.9%
Partner	Kailera Therapeutics, ex-Greater China (part of the package in entry 4)
Note	A parallel China Phase 3 in type 2 diabetes, OUTSTAND-1, also met its endpoint.

9 HDM1002
Originator	Huadong Medicine, China
Mechanism	Small-molecule GLP-1 receptor agonist
Route	Oral, once daily
Stage and trial ID	Phase 3 complete and positive; pre-NDA meeting held. NCT06885021
Best disclosed weight change and week	‑12.2% at week 52 (400 mg; placebo ‑1.2%). Primary endpoint at week 44: ‑10.7%
Partner	None
Note	The most advanced unpartnered oral in the region.

10 VCT220 (CX11)
Originator	Vincentage Pharma, China
Mechanism	Small-molecule GLP-1 receptor agonist
Route	Oral, once daily
Stage and trial ID	China Phase 3 positive, NCT06939296; US Phase 2 positive, NCT07011797
Best disclosed weight change and week	‑12.4% at week 52 (160 mg; placebo ‑1.3%)
Partner	Corxel Pharmaceuticals, ex-Greater China (terms undisclosed)
Note	The US Phase 2 reported up to ‑11.5% at week 36; Corxel plans a global Phase 3.

11 RAY1225
Originator	Raynovent (Guangdong Zhongsheng Pharmaceutical), China
Mechanism	GLP-1/GIP dual receptor agonist
Route	Subcutaneous, every two weeks
Stage and trial ID	Phase 3, NCT06893016: positive topline announced October 2026 without figures
Best disclosed weight change and week	‑21.18% at week 24, Phase 2 REBUILDING-1 (18 mg; placebo not disclosed for this cohort)
Partner	None
Note	The highest number on our chart, but from Phase 2 at 24 weeks with no placebo comparison. The Phase 3 figures matter more.

12 HDM1005 (poterepatide)
Originator	Huadong Medicine, China
Mechanism	GLP-1/GIP dual receptor agonist
Route	Subcutaneous, once weekly
Stage and trial ID	Phase 3 met its primary endpoint at a week 40 interim (figures not disclosed). Phase 2 head-to-head against tirzepatide, NCT07521631, recruiting
Best disclosed weight change and week	‑13.31% at week 22, Phase 2 (2.0 mg; placebo ‑2.46%)
Partner	None
Note	Pre-NDA meeting expected in Q4 2026.

13 TG103 (efsubaglutide alfa)
Originator	CSPC Pharmaceutical Group, China
Mechanism	GLP-1 Fc fusion protein
Route	Subcutaneous, once weekly
Stage and trial ID	Phase 3 in non-diabetic overweight or obesity completed, CTR20251416; obesity results not disclosed
Best disclosed weight change and week	‑7.24% at week 12, Phase 1b (15 mg; placebo ‑1.76%)
Partner	None
Note	CSPC's Phase 3 data at EASD 2026 were in type 2 diabetes only.

Phase 3 under way

Three assets have started pivotal programmes but have only earlier data to show. Two are pills, and two of the three have global Phase 3 trials under way.

14 UBT251
Originator	The United Laboratories, China
Mechanism	GLP-1/GIP/glucagon triple receptor agonist
Route	Subcutaneous, once weekly
Stage and trial ID	China Phase 3, NCT07648225; first participant dosed September 2026
Best disclosed weight change and week	‑19.7% at week 24, Phase 2 (highest dose, efficacy estimand; placebo ‑2.0%)
Partner	Novo Nordisk, ex-Greater China (USD 200 million upfront, up to USD 1.8 billion in milestones)
Note	The doses tested in Phase 2 ranged from ‑13.6% to ‑19.7%.

15 ASC30
Originator	Ascletis Pharma, China
Mechanism	Small-molecule GLP-1 receptor agonist
Route	Oral, once daily (a once-monthly injectable depot of the same molecule is in Phase 2)
Stage and trial ID	Global Phase 3 AURORA-1, NCT07743463, and AURORA-2, NCT07743450; first patient dosed 30 August 2026, topline due Q3 2028
Best disclosed weight change and week	‑7.7% placebo-adjusted at week 13, US Phase 2 (60 mg)
Partner	None; Ascletis holds global rights
Note	A Chinese-originated pill in global Phase 3 without a Western licensee.

16 Elecoglipron (AZD5004, ECC5004)
Originator	Eccogene, China
Mechanism	Small-molecule GLP-1 receptor agonist
Route	Oral, once daily
Stage and trial ID	Global Phase 3 run by AstraZeneca (Embold in obesity). Phase 2b VISTA, NCT06579092
Best disclosed weight change and week	‑11.8% at week 36 (75 mg, efficacy estimand; placebo ‑0.3%)
Partner	AstraZeneca, ex-Greater China (USD 185 million upfront; USD 50 million milestone on starting Phase 3, September 2026)
Note	VISTA is published in The Lancet.

Phase 2 and earlier, with numbers

The early end of the list is where the mechanisms diversify: triple agonists, glucagon co-agonists, monthly dosing and an oral peptide. The figures here are small and short, and should be read as signals rather than results.

17 Zovaglutide (ZT002)
Originator	QL Biopharm, China
Mechanism	Ultra-long-acting GLP-1 receptor agonist
Route	Subcutaneous, every two weeks or once monthly
Stage and trial ID	HORIZON-1 registered, NCT07230119; Phase 2, NCT06371326
Best disclosed weight change and week	‑14.4% at week 24, Phase 2 (160 mg every two weeks; placebo ‑2.4%). Monthly arm: ‑13.8%
Partner	None
Note	One of the clearest monthly-dosing signals in the region.

18 HRS-4729 (KAI-4729)
Originator	Jiangsu Hengrui Pharmaceuticals, China
Mechanism	GLP-1/GIP/glucagon triple receptor agonist
Route	Subcutaneous, once weekly
Stage and trial ID	Phase 2, NCT07690826
Best disclosed weight change and week	‑16.0% at week 12, Phase 1 (12 mg; placebo ‑5.4%)
Partner	Kailera Therapeutics (entry 4 package)
Note	Hengrui's third obesity asset, giving it a weekly dual, a weekly triple and a daily pill.

19 HM15275
Originator	Hanmi Pharmaceutical, Korea
Mechanism	GLP-1/GIP/glucagon triple receptor agonist
Route	Subcutaneous, once weekly
Stage and trial ID	US Phase 2, NCT07205900 (about 250 adults, 36 weeks; completion estimated January 2027)
Best disclosed weight change and week	‑4.81% placebo-adjusted at day 29 (about week 4), Phase 1, NCT06481098
Partner	None
Note	Hanmi's stated goal of more than 25% loss is a target, not data.

20 Oral ecnoglutide (XW004, VRB-101)
Originator	Sciwind Biosciences, China
Mechanism	cAMP-biased GLP-1 receptor agonist, oral peptide formulation
Route	Oral; once daily in Phase 1, once weekly in Phase 2b
Stage and trial ID	Phase 2b EVOLVE-2, NCT07281937, enrolment complete, topline due by end 2026
Best disclosed weight change and week	‑6.76% at week 6, Phase 1 (30 mg daily; placebo ‑0.85%)
Partner	Verdiva Bio, ex-Greater China and Korea (about USD 70 million upfront, more than USD 2.4 billion in milestones)
Note	A weekly pill would be a genuine differentiator if EVOLVE-2 holds up.

21 Utreglutide (GL0034)
Originator	Sun Pharmaceutical Industries, India
Mechanism	Long-acting GLP-1 receptor agonist
Route	Subcutaneous, once weekly
Stage and trial ID	Phase 2, NCT07282743, in overweight or obesity with type 2 diabetes (HbA1c primary endpoint; topline guided for H2 2027)
Best disclosed weight change and week	‑8.0% at week 14, Phase 1b/2a (postmenopausal women with obesity and MASLD; placebo ‑2.1%)
Partner	None
Note	The only Indian-originated novel obesity agent we found in a registered trial.

22 DA-1726
Originator	Dong-A ST, Korea
Mechanism	GLP-1/glucagon dual receptor agonist (oxyntomodulin analogue)
Route	Subcutaneous, once weekly
Stage and trial ID	Phase 1 Part 3, NCT06252220; topline due Q4 2026
Best disclosed weight change and week	‑9.1% at week 8 (48 mg; not placebo-adjusted, placebo not reported)
Partner	MetaVia (formerly NeuroBo), a Dong-A ST affiliate, holds an exclusive licence
Note	Part 3 titrates to 48 mg or 64 mg over 16 weeks.

23 IBI3032
Originator	Innovent Biologics, China
Mechanism	Small-molecule GLP-1 receptor agonist
Route	Oral
Stage and trial ID	Phase 1 in adults with overweight or obesity, NCT07170319
Best disclosed weight change and week	‑10.11% at week 4 (9 mg titrated cohort)
Partner	None
Note	Innovent's first self-originated obesity asset in the clinic; its marketed mazdutide is a Lilly molecule.

In the clinic, no comparable number yet

Seven more assets meet the inclusion test but have no disclosed body-weight figure that can sit on the chart. Several are the most scientifically interesting names on the list.

#	Asset	Originator	Mechanism and route	Stage and trial ID	What is disclosed
24	MWN101	Shanghai Minwei (Lepu Medical), China	GLP-1/GIP/glucagon triple, Fc fusion; injectable	Phase 2, CTR20240802	No weight data disclosed
25	PG-102	ProGen, Korea	GLP-1/GLP-2 dual, Fc fusion; subcutaneous every two weeks or monthly	Phase 2 in obesity with type 2 diabetes, NCT06712615	Weight change not quantified; Rani Therapeutics partners an oral version
26	HM17321	Hanmi Pharmaceutical, Korea	UCN2 analogue (CRF2 receptor), aimed at fat loss with lean-mass preservation; subcutaneous	Phase 1, NCT07219589	Genentech: USD 190 million upfront, about USD 2.3 billion total (August 2026)
27	LAE102	Laekna, China	ActRIIA monoclonal antibody; subcutaneous	Phase 1	Body composition only: lean mass +4.6%, fat mass ‑3.6% placebo-adjusted at week 5; clinical collaboration with Lilly
28	HS-10535 (MK-4082)	Hansoh Pharmaceutical, China	Small-molecule GLP-1 receptor agonist; oral	Phase 1, NCT07388667	Merck: USD 112 million upfront, up to USD 1.9 billion
29	S-309309	Shionogi, Japan	MGAT2 inhibitor; oral	Phase 2, NCT05925114	Under 5% at week 24 as monotherapy; exact figure not disclosed
30	Bivamelagon (LB54640)	LG Chem, Korea	MC4R agonist; oral, once daily	Phase 2 in acquired hypothalamic obesity; Rhythm plans pivotal Phase 3	BMI, not weight: ‑9.3% at week 14 (600 mg; placebo +2.2%). Rhythm: USD 40 million upfront cash

Held out, and why

Mazdutide, approved in China for weight management in June 2025, is Innovent's commercial lead but an Eli Lilly molecule, so it fails the originator test. Its GLORY-2 trial reported ‑18.55% at week 60 at 9 mg, which helps set the bar for the Chinese duals above.

Aleniglipron (Structure Therapeutics) and RGT-075 (Regor Therapeutics) both have Shanghai research roots but split or US headquarters, so we hold them out as borderline. Aleniglipron is in Phase 3 after ‑11.3% placebo-adjusted at week 36 in Phase 2b.

Ildong's ID110521156 has been tested only in healthy volunteers, and D&D Pharmatech's zabopegdutide (DD01) is in a fatty-liver trial rather than an obesity one. Neither yet meets the registered obesity trial test. Beinaglutide, approved in China in 2023, predates this year's reckoning.

What the list says

China is the volume, and the volume is dual agonists

Twenty-one of the 30 assets are Chinese, six are Korean, two Japanese and one Indian. We found no Australian, Taiwanese or Singaporean originated asset in a registered obesity trial. Within the Chinese group, the GLP-1/GIP dual agonist is now a crowded class: HRS9531, olatorepatide and BGM0504 report 17.7%, 18.7% and 19.2% at 48 to 52 weeks, a spread smaller than the difference between estimands within a single trial. RAY1225 and HDM1005 are behind them. When five companies converge on one mechanism, the next fight is about price, supply and dosing interval rather than the weight-loss number.

Oral is settling at 10% to 12%

Orforglipron's ‑11.2% at week 72 and the Chinese pills' ‑9.8% to ‑12.4% at 44 to 52 weeks describe a reasonably tight band for once-daily small molecules, below the leading injectables. The pills will compete on convenience, manufacturing cost and access rather than depth of loss. The open question is Verdiva's once-weekly oral ecnoglutide, which reads out by the end of this year.

Frequency is the new differentiator

Bofanglutide and RAY1225 dose every two weeks, zovaglutide and GRADUAL-3 test monthly injections, and ASC30 has a monthly depot. A mono-agonist given fortnightly, bofanglutide, reports a one-year figure in the same band as the weekly duals. If that holds in GRADUAL-2 against semaglutide, mechanism matters less than many assumed.

The rights have mostly been sold

Of the 30 assets, 13 have an ex-regional or global licensee or a European partner. Disclosed upfront payments across Lilly, Kailera, Regeneron, Novo Nordisk, AstraZeneca, Merck, Verdiva, Genentech and Rhythm come to roughly USD 1.04 billion, before Menarini's EUR 62 million. Hansoh alone has sold two obesity assets, to Regeneron and Merck. The notable unpartnered late-stage names are HDM1002, BGM0504, RAY1225 and HDM1005, plus ASC30, which Ascletis is taking through global Phase 3 itself.

Muscle is the next frontier

Two of the most valued early deals, Hanmi's HM17321 with Genentech and Laekna's clinical collaboration with Lilly, are not incretins at all. Both aim to protect lean mass while fat comes off. Neither has a weight figure yet, which is why they sit in the table rather than on the chart.

What to watch into 2027

By end 2026: Verdiva's EVOLVE-2 topline for weekly oral ecnoglutide, and Dong-A ST's DA-1726 Phase 1 Part 3.
NMPA decisions on HRS9531, olatorepatide and BGM0504, and the full Phase 3 figures behind the RAY1225 and HDM1005 announcements.
January 2027: estimated completion of Hanmi's HM15275 Phase 2. During 2027: Kailera's global Phase 2 of HRS-7535, Sun Pharma's utreglutide Phase 2 (second half), and GRADUAL-2 against semaglutide.
2028: Kailera's KaiNETIC global Phase 3 for HRS9531 and Ascletis's AURORA topline for ASC30, the first pivotal tests of Chinese-originated obesity drugs in Western populations.

A year ago, an Asia-Pacific obesity pipeline was mostly a licensing story. At the end of 2026 it includes a US-approved pill, two Asian approvals, three Chinese filings and a deep bench of Phase 3 readouts. The figures are not yet comparable across trials, and the chart above should not be read as a league table. But the direction is clear enough: the next generation of weight-loss drugs will carry a lot of Asian intellectual property, whichever company's name ends up on the box.