Obesity Today — October 28, 2025

Catch the latest obesity news, featuring industry updates, clinical progress, and biopharma innovations.

In this Newsletter

🧪 HRS9531 Phase 3 data slated for ObesityWeek 2025 [1] [China • 21 Oct 2025]

https://www.sahmcapital.com/news/content/hengrui-pharma-and-kailera-therapeutics-announce-phase-3-hrs9531-obesity-data-presentation-at-obesityweek-2025-2025-10-21
Context: GEMINI-1 Phase 3 in China of once-weekly HRS9531 (dual GLP-1/GIP) in obesity or overweight.
Key point: Oral presentation scheduled Nov 4–7, 2025; prior topline indicated potential for category-leading weight loss (endpoint not specified).
Implication: May influence prescriber choice and payer reviews pending full data.

📊 Mazdutide tops semaglutide on composite endpoint in DREAMS-3 Phase 3 [2] [China • 26 Oct 2025]

https://www.prnewswire.com/news-releases/innovents-mazdutide-shows-superiority-in-glycemic-control-with-weight-loss-over-semaglutide-in-a-head-to-head-phase-3-clinical-trial-dreams-3-302594633.html
Context: Chinese adults with T2D and obesity, open-label, 32 weeks, mazdutide 6 mg vs semaglutide 1 mg.
Key point: Primary endpoint met, higher proportion achieved HbA1c < 7.0% plus ≥10% weight loss; greater mean HbA1c and weight reductions reported; GI AEs most common.
Implication: May influence prescriber choice and payer reviews pending full data.

🧵 Terns exits obesity program after “uncompetitive” Phase 2 profile [3] [22 Oct 2025]

https://www.biospace.com/drug-development/terns-turns-away-from-obesity-pill-after-uncompetitive-phase-ii-profile
Context: Oral GLP-1 TERN-601 showed modest placebo-adjusted weight loss at 12 weeks and liver enzyme elevations.
Key point: Company discontinuing TERN-601 and pivoting focus to oncology program TERN-701; analysts cited safety and efficacy concerns.
Implication: Signals pipeline investment and modality expansion.

📈 Eccogene files for Hong Kong IPO, highlights AZ partnership on oral GLP-1 [4] [Hong Kong • 23 Oct 2025]

https://www.sahmcapital.com/news/content/eccogene-eyes-hong-kong-ipo-with-experimental-weight-loss-drug-astrazeneca-partnership-2025-10-23
Context: ECC5004, a low-dose daily oral GLP-1, licensed ex-China to AstraZeneca with upfront and milestones; global Phase 2 ongoing.
Key point: IPO proceeds earmarked for clinical development across weight loss and metabolic programs; positions amid crowded GLP-1 field.
Implication: Signals pipeline investment and modality expansion.

🏛️ Novo Nordisk pushes to maintain Medicaid coverage for Wegovy [5] [US • 21 Oct 2025]

https://www.reuters.com/legal/litigation/novo-nordisk-fights-keep-medicaid-paying-weight-loss-drugs-2025-10-21/
Context: Some US states, citing costs and demand, plan to curb Medicaid coverage for weight-loss drugs.
Key point: Novo Nordisk coordinating advocacy to preserve access, as pullbacks threaten coverage and market growth.
Implication: Could inform practice and payer discussions; interpretation depends on policy design and budget impact.

Why it matters

Dual and multi-agonists continue to differentiate on composite metabolic endpoints.
Oral GLP-1 landscape remains volatile, with safety signals shaping competitiveness.
Big Pharma partnerships are anchoring late-stage oral programs and financing.
State-level coverage decisions may set precedents for obesity-drug reimbursement.
Conference disclosures will refine the efficacy and safety pecking order into 2026.

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FAQ

What is HRS9531 and where is it in development?

HRS9531 is a dual GLP-1/GIP agonist from Hengrui and Kailera, in Phase 3 GEMINI-1 in China, with data to be presented at ObesityWeek 2025 [1].

How did mazdutide compare to semaglutide in DREAMS-3?

In Chinese adults with T2D and obesity, the Phase 3 open-label study met its primary composite endpoint favoring mazdutide, with greater average HbA1c and weight reductions reported; GI events were most common [2].

Why did Terns discontinue TERN-601?

Phase 2 data showed modest weight loss and liver enzyme elevations, leading Terns to stop development and shift focus to TERN-701 in CML [3].

What is Eccogene taking public, and what is the AstraZeneca link?

Eccogene filed for a Hong Kong IPO, highlighting ECC5004, an oral GLP-1 partnered with AstraZeneca for ex-China rights and in global Phase 2 trials [4].

What is happening with Medicaid coverage for Wegovy?

Several US states are moving to limit coverage due to cost pressures. Novo Nordisk is mobilizing advocacy to maintain access under Medicaid [5].

Entities / Keywords

Hengrui Pharma; Kailera Therapeutics; HRS9531; GEMINI-1; GLP-1/GIP.
Innovent Biologics; mazdutide; DREAMS-3; semaglutide comparator; T2D.
Terns Pharmaceuticals; TERN-601; oral GLP-1; liver enzyme elevations; TERN-701.
Eccogene; ECC5004; AstraZeneca partnership; Hong Kong IPO; oral GLP-1.
Novo Nordisk; Wegovy; Medicaid coverage; US state policy; obesity reimbursement.