China's National Medical Products Administration has approved Pfizer Inc.’s (NYSE:PFE) ecnoglutide injection for chronic weight management in adults with overweight or obesity, marking the first approval of a cAMP-biased GLP-1 receptor agonist designed to deliver sustained weight reduction and metabolic benefits.

Pfizer’s Competition

Bloomberg noted that Pfizer is entering a market currently dominated by Novo Nordisk A/S (NYSE:NVO), Eli Lilly and Co. (NYSE:NVO), and Innovent Biologics Inc.

The company has not disclosed pricing or a launch timeline. The approval also comes as Novo Nordisk's Wegovy nears patent expiry later this month, potentially paving the way for lower-cost copycat versions.

Hangzhou Sciwind Biosciences Co., Ltd. announced the regulatory clearance on Friday, positioning the therapy as a new option for long-acting weight management in China.

In February, Hangzhou ...