AstraZeneca has outlaid up to $18.5bn in a licensing deal with China-based CSPC Pharmaceuticals to develop longer lasting weight-loss drugs, becoming the latest drugmaker to eye entry into the lucrative obesity market.
AstraZeneca will pay $1.2bn upfront for access to eight obesity and type 2 diabetes programmes. CSPC is eligible for a further $3.5bn if development and regulatory milestones are met across the programmes, as well as royalties on any drugs approved via the partnership.
According to a seperate press release by CSPC, the company could also receive up to an additional $13.8bn in sales milestones.
The jewel in CSPC’s crown is SYH2082, a once-monthly GLP1RA/GIPR agonist injectable progressing into Phase I and three preclinical programmes. SYH2082 is one of four programmes that the two companies will initially advance through Phase I completion.
The London-listed big pharma company will be responsible for further development and commercialisation in all territories outside of China. CSPC retains all rights for China, Taiwan, Hong Kong and Macau.
The deal marks a bolstering of AstraZeneca’s pipeline that already includes elecoglipron, a small molecule oral GLP1RA, two weekly injectable candidates, and preclinical assets. Developing drugs that have longer intervals between dosing is currently the name of the game in the obesity market.
Pfizer and Novo Nordisk were involved in a fierce bidding war for Metsera, an obesity biotech developing monthly injectable GLP-1RAs. In November, Pfizer secured a deal to acquire Metsera for up to $10bn.
Sharon Barr, head of BioPharmaceuticals R&D at AstraZeneca, said: "This strategic collaboration advances our weight management portfolio by delivering novel assets which complement our existing programmes. It will provide access to CSPC’s proprietary AI-enabled peptide capabilities and platform technology, which have the potential to transform the treatment of obesity, helping to address adherence and convenience as key barriers to long-term therapeutic success.”
Weight loss therapies have become some of the most lucrative revenue generators for pharma companies in recent years. Eli Lilly and Novo Nordisk currently dominate the global market with tirzepatide and semaglutide brands, respectively. In December 2025, Novo won the first US approval for an oral GLP-1RA indicated for weight loss.
The obesity market across the seven major markets (7MM: the US, France, Germany, Italy, Spain, the UK, and Japan) is forecast to reach $173.5bn by 2031, as per GlobalData analysis.
GlobalData is the parent company of Pharmaceutical Technology.
AstraZeneca deepens ties in China
AstraZeneca’s obesity deal with CSPC means it has returned to the company for the second time within a year. AstraZeneca conducted one of the largest Chinese licensing deals with the company in 2025, signing a $5.2bn deal with CSPC to research chronic disease drugs in June 2025.
China-based companies are responsible for 20% of drugs in development globally, reflecting the powerhouse role the country has embraced in the pharmaceutical industry, as per a report by GlobalData.
The deal with CSPC came just a day after AstraZeneca also announced that it would invest $15bn in China by 2030. The capital will see the drugmaker improve its R&D capabilities across several therapeutics, as well as constructing new facilities across the country.
