--- title: "The Business of Losing Weight" description: "Over the last few years, rising rates of obesity have prompted significant growth in the global marketplace for weight-loss medications." url: https://www.independentpress.com/article/the-business-of-losing-weight date: 2026-01-30 categories: ["Healthcare"] author: "By Doris Peng" --- # The Business of Losing Weight ![The Business of Losing Weight](https://images.ctfassets.net/ewtdlsoyixc1/5NeWJEDMK4GxiZPIRHY7sK/da9ac487c8bcc23e27a922476817ab72/image__5_.jpg) Over the last few years, rising rates of obesity have prompted significant growth in the global marketplace for weight-loss medications. Annual sales for anti-obesity drugs reached $6 billion in 2023 and that number could increase to approximately $100 billion by 2030.1 An emergence of new weight-loss medications such as glucagon-like peptide-1s (GLP-1s) have shown to be more effective compared to older forms of treatments including diet pills. The arrival of new weight-loss drugs comes at a time when obesity is a growing global concern with over half of the world’s population projected to be overweight or obese by 2035. Growing rates of obesity and the demand for new methods of treatment have compelled major drug manufacturers to capitalize on the opportunity and develop new forms of medications to treat the epidemic.2 Since the FDA’s approval of the first GLP-1 receptor agonist exenatide (Byetta) in 2005, GLP-1s have gained the attention of doctors and health professionals for showing promise in being able to bring down healthcare costs and prevent health issues related to being overweight. Obesity is a significant factor contributing to the development of chronic diseases later in life such as heart disease, diabetes, and cancer. In the U.S. alone, the cost of treating obesity-related health problems adds $173 billion per year to healthcare expenses.3 With large-scale adoption by at-risk patients, GLP-1s could potentially save the healthcare system billions of dollars over the long term.4 **Pharmaceutical Approaches to Obesity Treatment** Drugs for weight loss are designed to help people lose excess weight. However, historically, weight loss medications have provided very little assistance in helping people achieve significant weight reduction. Many medicines have also faced concerns about safety which has led to their removal from the marketplace.5 Fen-phen, a popular weight-loss drug marketed in the 1990s, was removed from the marketplace in 1997 after studies found links between the drug and valvular heart disease. Several new weight-loss medications have emerged in recent years that are changing the way we care for individuals who suffer from obesity and weight-related diseases like diabetes. One example is a class of drugs called GLP-1 receptor agonists which act as incretin mimetics.6 GPL-1 receptor agonists are a type of medication which help manage the metabolism of individuals by lowering their serum glucose levels.7 Incretin is produced in our intestines when we eat, stimulating pancreatic insulin production after a meal. Incretin signals to our brains when we have received enough nutrition sending a message to our stomachs to slow down so we can digest what we have eaten.8 In effect, GLP-1s mimic incretin and stimulate our brains to make us think we are full. Studies have shown that GLP-1s are effective at reducing appetite and caloric consumption thereby leading to weight loss. Initially, GLP-1 receptor agonists like exenatide (Byetta) were intended to be used primarily as a means for treating type 2 diabetes. However, as more research has been conducted, GLP-1s have been identified as effective tools for assisting individuals with a Body Mass Index (BMI) of greater than 30 to manage their weight without the need for more invasive forms of treatment.9 In clinical trials, patients taking GLP-1s achieved weight loss of approximately 15 – 20% over the course of a year, significantly higher compared to past weight-loss medications.10 In addition, GLP-1s were able to help reduce the overall cardiovascular risk in patients with obesity and metabolic disease by lowering systolic and diastolic blood pressure and total cholesterol.11 **The Costs Related to Obesity, Diabetes, and Heart Disease** Obesity, diabetes, heart disease, and healthcare costs are strongly correlated with one another. In the United States, over 42% of adults are classified as obese and 9.2% as suffering from severe obesity.12 Rising rates of obesity are compounding the health issues affecting Americans. In 2021 alone, nearly 700,000 deaths in the U.S. were caused by heart disease, with extensive studies showing that obesity is one of most significant factors leading to the development of severe heart conditions.13 Obesity is also a contributing risk factor to the development of type 2 Diabetes Mellitus (DM). The total annual costs related to treating diabetes in America has been estimated at $412 billion.14 One out of four dollars spent by the U.S. healthcare system is for care of an individual diagnosed with diabetes. Several weight-loss medications that were originally developed to treat DM,15 including Semaglutide and Tirzepatide both originally approved for use in reducing High Blood Glucose (HBG) levels, have subsequently been developed at higher dosages and re-purposed into approved weight-loss management treatments.16 Medical conditions related to obesity, including heart disease and diabetes, cost the U.S. hundreds of billions of dollars in healthcare expenses every year. Emerging weight-loss medications thus present a substantial opportunity in the healthcare industry. GLP-1s offer the potential to save 100,000s of lives, billions of dollars on global healthcare expenses, and reduce the $4 trillion total economic toll that obesity is forecast to cost the healthcare system by 2035.17 **Risks of Weight-Loss Drugs** Numerous adverse side effects can accompany the use of GLP-1s for weight loss. Gastrointestinal issues such as nausea, vomiting, constipation, and diarrhea are the most common issues among patients taking GLP-1s, especially at the beginning of treatment or following a dosage increase.18 Some other less common side effects from GLP-1s include what has become known in the popular media as "Ozempic face," referring to the wrinkled, sagging facial skin caused by the use of GLP-1s.19 However, the rapid loss of body fat from any cause may result in loss of muscle mass and an unhealthy facial appearance, and is not unique to the use of GLP-1s. There are also some serious side effects from the use of GLP-1s that may occur more infrequently. Rapid weight loss can predispose individuals to gallbladder disorders and gallstone formation. Some patients taking GLP-1s have reported gallstone attacks and blocked bile ducts.20 In testing on mice, GLP-1s have shown an association with a very rare cancer in the thyroid (thyroid C-cell tumors), though, as of this date, no correlation has been found in human studies.21 Long-term uncertainties associated with the use of obesity medications also exist. GLP-1 medications are new and therefore questions remain surrounding how these medications impact muscle mass, bone density, and human physiology over extended periods of time.22 Based upon some early findings, weight loss using GLP-1s may reduce lean muscle unless patients engage in regular exercise. Without proper nutrition and exercise, the loss of lean muscle compounded over several years can lead to negative overall metabolic health. **Key Players in the Obesity Drug Market** **Novo Nordisk A/S** [Novo Nordisk](https://www.novonordisk.com/) leads the drug industry in the treatment of obesity. The company’s GLP-1 portfolio includes three major products; Ozempic (semaglutide: for diabetes), Wegovy (semaglutide: for obesity) and Saxenda (liraglutide: for obesity).23 The introduction of Wegovy in June 2021 has helped position Novo Nordisk to become Europe's most valuable company by market capitalization. With an estimated 75% market share of the global obesity drug market, Novo has benefited from being the first company to market with Wegovy.24 The demand for Wegovy has been monumental. The drug’s sales in the United States have increased by 393% from 2022 to 2023.25 The company’s stock price increased by around 70% over the course of 2023, at one point making Novo Nordisk more valuable than the entire GDP of Denmark, its country of origin.26 **Eli Lilly and Co.** [Eli Lilly](https://www.lilly.com/) is currently Novo Nordisk's primary competitor in the weight-loss drug industry. Tirzepatide, Eli Lilly's leading product, is an injectable medication that has received final approvals from the FDA both as Mounjaro (to treat Type 2 Diabetes) and Zepbound (to treat Obesity).27 Clinical data for Tirzepatide has shown individuals can lose as much as 20% of their body weight on the medication. Tirzepatide has allowed Eli Lilly to capture a significant portion of the marketplace for medications treating obesity[EN1] . In the third quarter of 2025, combined sales of Mounjaro and Zepbound surpassed Keytruda, making Eli Lilly’s tirzepatide-based drugs the world’s top-selling drugs, with analysis expecting the drugs to maintain this position through 2025 until the end of the decade. **Pfizer Inc.** [Pfizer](https://www.pfizer.com/), one of the most significant players in the pharmaceutical industry, has only recently entered the market for weight-loss medications but is investing heavily to catch up to its competitors.28 Pfizer is pursuing oral drug options over injectable versions for obesity treatments. Pfizer initially launched two oral GLP-1 drugs in clinical trials (Danuglipron and Lotiglipron), but both drug candidates failed due to side effects including elevated liver enzymes and safety signals – and were subsequently discontinued29. Despite these setbacks, Pfizer is currently evaluating an oral gastric inhibitory polypeptide (GIP) receptor antagonist in Phase 2 development.30 **Conclusion** Rising rates of obesity, and the increase in chronic health problems associated with being overweight, are driving growth in the global market for weight-loss drugs. The emergence of GLP-1 medications and their high rates of success offer exciting new opportunities in drug development and the pharmaceutical industry. Novo Nordisk, Eli Lilly, Pfizer and many other companies are competing to lead this rapidly growing area in the healthcare industry. Even with concerns about the costs of these products, potential side effects, and long-term safety, demand for weight-loss medications is expected to be strong for the foreseeable future. --- **Footnotes:** 1 “The Anti-Obesity Drug Market May Prove Smaller than Expected,” Goldman Sachs, May 22, 2025, [https://www.goldmansachs.com](https://www.goldmansachs.com/insights/articles/the-anti-obesity-drug-market-may-prove-smaller-than-expected) 2 Ibid 3 “Adult Obesity Facts,” Centers for Disease Control and Prevention, May 14, 2024, [https://www.cdc.gov](https://www.cdc.gov/obesity/adult-obesity-facts/index.html) 4 Mina Kabiri et al., “Simulating the Fiscal Impact of Anti-Obesity Medications as an Obesity Reduction Strategy,” Inquiry : a journal of medical care organization, provision and financing, January 29, 2021, [https://pmc.ncbi.nlm.nih.gov](https://pmc.ncbi.nlm.nih.gov/articles/PMC7970686/) 5 Barasch A, Safford MM. Diet medications and valvular heart disease: the current evidence. Spec Care Dentist. 2002 May-Jun;22(3):108-14. doi: 10.1111/j.1754-4505.2002.tb01172.x. PMID: 12240890. 6 ELS Lisa Catanese, “GLP-1 Diabetes and Weight-Loss Drug Side Effects: ‘Ozempic Face’ and More,” Harvard Health, February 5, 2024, [https://www.health.harvard.edu](https://www.health.harvard.edu/staying-healthy/glp-1-diabetes-and-weight-loss-drug-side-effects-ozempic-face-and-more#:~:text=GLP,tract%20in%20response%20to%20eatin) 7 Logan Collins, “Glucagon-like Peptide-1 Receptor Agonists,” StatPearls [Internet]., February 29, 2024, [https://www.ncbi.nlm.nih.gov](https://www.ncbi.nlm.nih.gov/books/NBK551568/#:~:text=Glucagon%2Dlike%20peptide%2D1%20(,options%20for%20these%20endocrine%20diseases) 8 Ibid 9 Ibid 10 “The Anti-Obesity Drug Market May Prove Smaller than Expected,” Goldman Sachs, May 22, 2025, [https://www.goldmansachs.com](https://www.goldmansachs.com/insights/articles/the-anti-obesity-drug-market-may-prove-smaller-than-expected.) 11 Logan Collins, “Glucagon-like Peptide-1 Receptor Agonists,” StatPearls [Internet]., February 29, 2024, [https://www.ncbi.nlm.nih.gov](https://www.ncbi.nlm.nih.gov/books/NBK551568/#:~:text=Glucagon%2Dlike%20peptide%2D1%20(,options%20for%20these%20endocrine%20diseases) 12 Tiffani Bell Washington et al., “Disparities in Access and Quality of Obesity Care,” Gastroenterology clinics of North America, June 2023, [https://pmc.ncbi.nlm.nih.gov](https://pmc.ncbi.nlm.nih.gov/articles/PMC10198472/#:~:text=Obesity%20is%20highly%20prevalent%2C%20with,and%209.2%25%20with%20severe%20obesity) 13 C A Dimala et al., “Heart Disease and Heart Failure: Trends and Disparities in Mortality Rates in the United States from 2000 to 2020,” American heart journal plus : cardiology research and practice, September 6, 2024, [https://pmc.ncbi.nlm.nih.gov](https://pmc.ncbi.nlm.nih.gov/articles/PMC11415632/) 14 “New American Diabetes Association Report Finds Annual Costs of Diabetes to Be $412.9 Billion,” $412.9 Billion in Health Care Dollars |ADA, November 1, 2023, [https://diabetes.org](https://diabetes.org/newsroom/press-releases/new-american-diabetes-association-report-finds-annual-costs-diabetes-be#:~:text=Today%2C%20the%20American%20Diabetes%20Association%C2%AE,S) 15 ELS Lisa Catanese, “GLP-1 Diabetes and Weight-Loss Drug Side Effects: ‘Ozempic Face’ and More,” Harvard Health, February 5, 2024, [https://www.health.harvard.edu](https://www.health.harvard.edu/staying-healthy/glp-1-diabetes-and-weight-loss-drug-side-effects-ozempic-face-and-more#:~:text=have%20been%20used%20to%20treat,diabetes%20for%20about%20two%20decades) 16 Ibid 17 “The Anti-Obesity Drug Market May Prove Smaller than Expected,” Goldman Sachs, May 22, 2025, [https://www.goldmansachs.com](https://www.goldmansachs.com/insights/articles/the-anti-obesity-drug-market-may-prove-smaller-than-expected) 18 Theodosios D Filippatos, Thalia V Panagiotopoulou , and Moses S Elisaf , “Adverse Effects of GLP-1 Receptor Agonists,” The review of diabetic studies : RDS, February 10, 2015, [https://pubmed.ncbi.nlm.nih.gov](https://pubmed.ncbi.nlm.nih.gov/26177483/) 19 ELS Lisa Catanese, “GLP-1 Diabetes and Weight-Loss Drug Side Effects: ‘Ozempic Face’ and More,” Harvard Health, February 5, 2024, [https://www.health.harvard.edu](https://www.health.harvard.edu/staying-healthy/glp-1-diabetes-and-weight-loss-drug-side-effects-ozempic-face-and-more#:~:text=have%20been%20used%20to%20treat,diabetes%20for%20about%20two%20decades.) 20 Ibid 21 B D Hollingshead and Z A Radi, Human relevance of pharmaceutical drug‐induced thyroid tumors in rats, labeling implications, and carcinogenicity study requirements - hollingshead - 2025 - journal of applied toxicology - wiley online library, March 13, 2025, [https://analyticalsciencejournals.com](https://analyticalsciencejournals.onlinelibrary.wiley.com) 22 David Brennan, “Primary Care in Rochester and Kasson,” Mayo Clinic, August 14, 2025, [https://communityhealth.mayoclinic.org](https://communityhealth.mayoclinic.org/featured-stories/weight-loss-drugs#:~:text=Pros%20and%20cons%20of%20GLP,medications%20can%20be%20from%20muscle) 23 Ed Matthews Senior Advisor et al., “The Multi-Sector Impacts of Glp-1ra Drugs,” Teneo, May 2, 2024, [https://www.teneo.com](https://www.teneo.com/insights/articles/the-multi-sector-impacts-of-glp-1ra-drugs/#:~:text=and%20Saxenda,European%20company%20by%20market%20capitalization) 24 Motley Fool, “Surprise! Novo Nordisk’s Wegovy Just Achieved Another Milestone. Here’s What You Need to Know.,” Barchart.com, June 30, 2024, [https://www.barchart.com](https://www.barchart.com/story/news/27129489/surprise-novo-nordisks-wegovy-just-achieved-another-milestone-heres-what-you-need-to-know#:~:text=The%20chart%20above%20sheds%20some,Nordisk%20stock%20is%20undeniably%20pricey) 25 Ibid 26 Ed Matthews Senior Advisor et al., “The Multi-Sector Impacts of Glp-1ra Drugs,” Teneo, May 2, 2024, [https://www.teneo.com](https://www.teneo.com/insights/articles/the-multi-sector-impacts-of-glp-1ra-drugs/#:~:text=and%20Saxenda,European%20company%20by%20market%20capitalization) 27 Jea Yu, Eli Lilly stock leads in GLP-1 race with its triple agonist drug, July 9, 2024, [https://www.marketbeat.com](https://www.marketbeat.com/originals/eli-lilly-stock-leads-in-glp-1-race-with-its-triple-agonist-drug/) 28 “Pfizer’s Bold Move in the Obesity Drug Market,” Claritas Rx, December 10, 2025, [https://www.claritasrx.com](https://www.claritasrx.com/thought-leadership/pfizer-obesity-drug-market/) 29 Frank Vinluan, “Pfizer Stops Work on Oral GLP-1 Obesity Drug after Safety Signal Surfaces in Clinical Trial,” MedCity News, August 19, 2025, [https://medcitynews.com](https://medcitynews.com/2025/04/pfizer-oral-glp-1-obesity-weight-loss-danuglipron-liver-enzymes-pfe/) 30 Nick Paul Taylor , Pfizer axes oral GLP-1 asset over liver injury, blowing hole in Obesity Plan, April 14, 2025, [https://www.fiercebiotech.com](https://www.fiercebiotech.com/biotech/pfizer-axes-oral-glp-1-asset-over-liver-injury-blowing-hole-obesity-plan)