Beyond GLP-1 injectables, who wins the next phase for obesity drugs?

[Ozempic Insulin injection pen] CR/iStock via Getty Images INVESTORS SHOULD KNOW: The obesity drug market is undergoing a structural shift, moving beyond the initial injectable GLP-1 franchise. Now, the industry is moving toward a broader competitive landscape defined by oral agents, less-frequent dosing, multi-mechanism combinations, and entirely new biological targets. As more products reach late-stage development, companies will increasingly compete on tolerability, adherence, dosing convenience, and manufacturing economics rather than peak weight-loss efficacy alone.