China's Hansoh Pharma Joins Global Weight-Loss Race with Successful Phase III Trial of Olatorepatide, a Novel GLP-1/GIP Dual Agonist

If the global pharmaceutical industry trends of the past two years were condensed into a few keywords, the "weight-loss drug revolution" would certainly be among them. Moreover, entering 2026, this field remains one of the hottest areas in the global pharmaceutical industry.

Obesity has become one of the most serious chronic disease challenges globally. According to data from the World Health Organization, more than 650 million adults worldwide are currently affected by obesity, and the combined prevalence of overweight and obesity among adults in China has exceeded 50%.

For a long time, there has been a lack of truly effective and long-term usable drugs for obesity treatment. However, with the rise of GLP-1 class drugs, this situation is beginning to undergo a fundamental change.

From the single-target GLP-1 receptor agonist semaglutide to the GLP-1/GIP dual receptor agonistTirzepatide，再到多靶点代谢调控药物，GLP-1类药物不仅改变了肥胖与糖尿病的治疗方式，也重塑了全球制药产业的价值格局。当替尔泊肽在2025年创造约365亿美元销售额，成为全球最具商业潜力的创新药之一，减重药赛道正在经历一场技术升级和商业爆发并行的产业革命。

Against this backdrop, pharmaceutical companies in China have also quickly entered this track.From Innovent Bio, Sciwind, to Hansoh Pharma,HansohA batch of domestically produced GLP-1 class new drugs is accelerating its clinical progress.

As the global competition for weight-loss drugs continues to heat up, another innovative drug from China has emerged.

On March 7, 2026, Hansoh Pharma announced its self-developed GLP-1/GIP dual receptor agonist.Olepecotide(HS-20094) Phase III registrational study in Chinese overweight or obese adults meets primary endpoint. After 48 weeks of treatment, the average weight loss of participants reached up to 19.3%, with 97.2% of participants achieving ≥5% weight loss. The study also demonstrated significant advantages in gastrointestinal tolerability.

This result means that Chinese domestic enterprises are accelerating their catch-up with the global first tier in the field of GLP-1 dual-target weight loss drugs.Olepeptide Is Becoming an Important New Player in the GLP-1 Arena.

01

China-Produced GLP-1/GIP Dual-Target Weight Loss Drug Reaches Key Milestone

Olepeptide is a GLP-1/GIP dual receptor agonist independently developed by Hansoh Pharma, and also an important innovative product in the field of metabolic diseases for Hansohn. The recently announced Phase III study results show that the drug demonstrates significant weight loss efficacy and good safety characteristics in Chinese overweight or obese populations.

Specifically, the HS-20094-301 study is a multi-center, randomized, double-blind, placebo-controlled Phase III clinical trial conducted across 33 clinical centers in China, enrolling a total of 604 overweight or obese adult subjects. After 48 weeks of treatment, the average weight loss from baseline in the Olepegotide group reached up to 19.3%, with the proportion of subjects achieving ≥5% weight loss reaching up to 97.2%. The study met its co-primary endpoints.

In terms of safety, Olerupide also demonstrated excellent gastrointestinal tolerability.It is reported that, with the innovative design of dual-target synergistic action, Olebipeptide has an average nausea incidence rate of less than 10% and an average vomiting incidence rate of less than 5%. This data is significantly better than the published Phase III trial data of GLP-1 related dual agonist drugs.

Director of the Endocrinology Department, Peking University People's HospitalJi LinongThe professor commented:"Olepeptide not only demonstrates weight loss efficacy comparable to other weight loss drugs with the same target, but also exhibits better gastrointestinal tolerability than other GLP-1 class drugs, which further enhances the acceptability and compliance of the treatment."

This tolerance advantage is backed by solid mechanistic support.

Mechanism details shared by Professor Ji Linong at the 2025 Chinese Diabetes Society Annual Meeting showed that GIPR and GLP-1R have a synergistic effect on lowering blood glucose and weight, and can improve gastrointestinal side effects caused by GLP-1R agonists.

More crucially, Olebogrel is a GLP-1R/GIPR dual biased agonist, and its effect on GIPRβ-arrestin2The recruitment level is 30% lower than that of tirzepatide. A lower β-arrestin2 recruitment level helps reduce GIPR desensitization, thereby maintaining the long-term efficacy of GIPR. Meanwhile, the clinical half-life of olezumab is approximately 160 hours, with a peak-to-trough ratio (Cmax/Ctrough) of less than 2 at steady state. A lower peak-to-trough ratio helps reduce side effects caused by peak drug concentrations.

Notably, the Chinese population tends to experience more pronounced gastrointestinal reactions to GLP-1 drugs compared to populations overseas.Olepeptide Achieves Excellent Tolerance Data in the Chinese Population, Which Is of Great Value for Its Differentiated Positioning.In real-world clinical practice, only 32%-46% of patients continue with GLP-1 treatment after 12 months, with gastrointestinal adverse reactions being the core obstacle leading to discontinuation. In terms of clinical experience, "even if the efficacy is good, significant adverse reactions still affect compliance" is becoming a new consensus among prescribers.

From the perspective of the global competitive landscape, the GLP-1/GIP dual-target track has formed a clear梯队.

Lilly's tirzepatide, as the world's first approved GIP/GLP-1 dual receptor agonist, is projected to reach $36.5 billion in sales by 2025; Hengrui Medicine's HRS9531 submitted its marketing application in September 2025, becoming the first domestically produced and second globally; Hansoh Pharma's Orexin peptide followed closely, ranking second domestically and third globally. This signifies that Chinese companies have secured significant positions in the dual-target赛道.

In terms of R&D and global layout, Hansoh Pharma reached a licensing agreement with Regeneron in June 2025, under which Regeneron will be responsible for the overseas development of Olebogepant.Regeneron clearly regards it as an important pipeline in the weight loss field and may explore combination therapies with drugs such as PCSK9 monoclonal antibodies. Currently, Oleropeptide plans to submit a new drug marketing application in China soon. If all goes well, it is expected to become one of the top three approved GLP-1/GIP dual-target products in China.

02

Global Race for Weight Loss Drugs: Chinese Pharmaceutical Companies Are Entering the "Parallel Running Stage"

The significance of Oleyl Peptide Phase III study's success lies not only in the clinical breakthrough of a product but also reflects the rapidly changing industrial landscape of the global weight-loss drug market.

In the past few years, GLP-1 drugs have driven one of the most explosive markets in the pharmaceutical industry. The commercial success of semaglutide and tirzepatide has demonstrated the enormous market potential in the treatment of metabolic diseases.

From the sales data, Novo Nordisk's weight loss product Wegovy (semaglutide) injection is projected to reach $12.5 billion in total sales for 2025, while Eli Lilly's weight loss product Zepbound (tirzepatide) injection is expected to achieve $13.542 billion in annual sales. With its dual-target advantages, tirzepatide has far outpaced semaglutide in growth rate and is set to surpass it by 2025.

At the same time, the technological roadmap is also continuously upgrading.From single-target GLP-1 to GLP-1/GIP dual-target, and then to GLP-1/GCG or multi-target drugs, the treatment of metabolic diseases is entering an era of "multi-target synergy."Multi-receptor agonists have become the evolving direction in the treatment of obesity and type 2 diabetes. Triple-target agonists, represented by Retatrutide (targeting GLP-1/GIP/GCG), achieved weight loss close to that of bariatric surgery in Phase II trials.

Under this trend, Chinese companies are rapidly entering this field. From Innovent Bio's Masteptide to Sciwind's Enotuglipin, and then to Hansoh Pharma's Olepegotide, domestically produced innovative drugs are gradually forming their own competitive梯队.

Innovent Bio's Masheduo Peptide is the world's first approved GCG/GLP-1 dual receptor agonist, which suppresses appetite by activating the GLP-1 receptor and promotes fat breakdown by activating the GCG receptor. In December 2025, two Phase III clinical studies of Masheduo Peptide were simultaneously published in "back-to-back" format in the main journal of Nature. This marks the first time that the Nature journal has published two Chinese clinical studies in the field of metabolism and endocrine diseases in this format since its inception.

Sciwind's Ecnoglutide is the world's first cAMP-biased GLP-1 receptor agonist, achieving efficacy similar to dual-target drugs at a lower dose. It has been approved for two indications: weight management in adult patients with overweight/obesity and glycemic control in adult patients with type 2 diabetes.

HRS9531, developed by Hengrui Medicine, is a GLP-1/GIP dual-target injectable. The marketing application for its weight loss indication was accepted by the NMPA in September 2025. Phase III clinical trials showed that HRS9531 treatment over 48 weeks resulted in an average weight loss of up to 19.2%, demonstrating "best-in-class" potential among similar drugs. Its oral formulation, HRS9531 tablets, achieved an average weight reduction of 12.1% in the highest dose group at 26 weeks, with its development progress placing it in the first tier of orally administered drugs in China.

Entering 2026, the weight-loss drug market is undergoing profound changes.

On the one hand, the price war has already begun in advance.As the core patent for semaglutide is about to expire, domestically produced biosimilars are entering a market launch window. Novo Nordisk and Eli Lilly have proactively initiated a price-cutting trend, with the actual transaction prices of semaglutide and tirzepatide on e-commerce platforms nearly "halved" compared to six months ago, and some products seeing price drops of up to 80%.

On the other hand, the rise of oral weight-loss drugs is opening up an incremental market.Novo Nordisk's Wegovy oral tablets launched in the U.S. in January 2026, with the first-week prescription volume significantly surpassing the performance of injectables during the same period. Market forecasts predict that by 2030 and 2035, oral weight-loss medications will account for 24% and 32% of the weight-loss drug market share, respectively.

From this perspective, the core competition in the future weight loss track will revolve around weight loss efficacy, safety and tolerability, dosing frequency, cost, and patient accessibility.

In 2026, as the GLP-1 track shifts from a "growth-driven blue ocean" to a "competition-intensive red ocean," Hansoh Pharma's Olebogepant has carved out a niche in the market with Phase III data demonstrating "efficacy on par with international standards and superior tolerability compared to similar drugs."

From the competitive landscape, Olerp肽 ranks third globally and second among Chinese-produced drugs, with the potential to become one of the earliest GLP-1/GIP dual-target drugs approved in China. In terms of clinical value, its "dual-biased" mechanism design offers a tolerability advantage that addresses the core challenge of long-term adherence in weight-loss treatment. From a global strategic perspective, the endorsement from Regeneron opens up significant potential for overseas market expansion.

China's domestically produced weight-loss drug industry is transitioning from a follower to a contender. The role of Chinese strength in the global field of metabolic disease treatment is also undergoing a profound transformation.

       Title: Weight Loss Battle Adds Chinese Player: Hansoh Pharma's Olebogepant III Trial Successful, China-produced GLP-1/GIP Dual-target Accelerates Entry