Innovent Enters Competitive Chinese Weight Management Market with Xinermei
In a significant development for the burgeoning weight management sector in China, Innovent Biologics has launched Xinermei, a once-weekly injectable GLP-1 therapy. This new entrant joins the ranks of Novo Nordisk’s Wegovy and Eli Lilly’s Mounjaro, both of which have made their debut in the Chinese market in late 2024 and early 2025, respectively. Analysts predict that the weight-loss drug market in China could be worth billions in the coming years, making it a highly competitive arena.
The Emergence of Xinermei
Xinermei, also known as mazdutide, was officially launched in July 2025. Despite entering the market later than its competitors, Innovent aims to raise awareness about weight management and highlight the drug’s efficacy in reducing liver fat, a significant health concern. Rachel You, Innovent’s Chief Financial Officer, emphasized the importance of educating the public about the benefits of weight management therapies during a recent earnings call.
Allan von Mehren, an economist at Danske Bank, noted that local companies like Innovent may have an edge in understanding consumer behavior and branding in China, which could be crucial for their success in this competitive landscape.
Market Dynamics and Competition
The weight-loss drug market in China remains somewhat opaque, with companies like Innovent and Eli Lilly not disclosing specific sales figures. However, Lilly has stated its commitment to providing valuable treatment options for patients. Meanwhile, Novo Nordisk, which is currently undergoing a global workforce reduction of 9,000 jobs due to increasing competition, claims to maintain a “market-leading position” in China.
Recent data indicates that Novo’s sales of obesity care products in the greater China region fell sharply from 704 million Danish crowns (approximately $104 million) in the first quarter of 2025 to about 158 million Danish crowns ($24.8 million) in the second quarter. When questioned about this decline, Novo attributed it to “stock movements quarter over quarter.”
Morningstar, a research firm, forecasts that Xinermei could contribute over 600 million yuan ($84.4 million) to Innovent’s revenue this year, with peak sales projected to reach 3.5 billion yuan by 2029, accounting for roughly 20% of the company’s total revenue. In contrast, Wegovy’s sales in China are estimated to be around 2.2 billion Danish crowns ($346 million) this year, with expectations of a 30% growth in 2026 before facing declines due to generic competition.
Strategic Partnerships and Market Penetration
Innovent is actively pursuing partnerships with online platforms, retail pharmacies, and private hospitals to enhance the reach of Xinermei and improve the patient experience. The company has also announced plans to expand into public hospitals, although specific marketing strategies remain undisclosed.
A recent check on JD.com, China’s leading e-commerce platform, revealed that Xinermei is already widely available, alongside its competitors. However, these drugs are classified as costly prescription medications and are not covered by China’s national healthcare insurance for weight loss. The monthly cost for Wegovy is projected to be around $400, while Mounjaro could reach $900. Innovent has set the price for its highest dosage of Xinermei at 2,920 yuan ($411).
Innovent secured exclusive rights for the development and commercialization of mazdutide in China from Eli Lilly in 2019, although the financial terms of this agreement remain undisclosed. Enrique Conterno, a former president of Lilly’s diabetes unit, expressed optimism about the potential of mazdutide, suggesting that it could become a major blockbuster product in China, especially as it is also being developed for Type 2 diabetes treatment.
Unique Mechanism and Health Benefits
What sets Xinermei apart from its competitors is its dual-targeting mechanism. Unlike Wegovy and Mounjaro, which primarily focus on GLP-1 receptors, Xinermei also targets a hormone called GCG. Innovent argues that this approach could offer additional benefits for liver health. Preliminary studies have shown that Xinermei can help reduce liver fat content, a critical factor for individuals at risk of serious health complications.
Dr. Ji Linong, director of the endocrinology department at Peking University People’s Hospital, noted that some patients diagnosed with fatty liver disease have proactively inquired about using Xinermei, indicating a growing interest in the drug’s potential benefits.
Future Challenges and Local Competition
As the weight management market in China continues to evolve, all drug manufacturers face the looming threat of increased local competition. Novo Nordisk’s patent on semaglutide, the active ingredient in Wegovy, is set to expire in 2026, paving the way for local companies like CSPC Pharmaceutical Group and Hangzhou Jiuyuan Genetic Biopharmaceutical Co. to develop their own versions of the drug.
Tony Ren, head of Asia healthcare research at Macquarie Capital, remarked that if mazdutide proves successful, it could significantly impact Western competitors. However, the introduction of generic semaglutide in China, expected as early as 2026, raises questions about whether mazdutide can maintain its competitive edge.
Conclusion
The launch of Xinermei marks a pivotal moment in the Chinese weight management market, which is rapidly evolving and becoming increasingly competitive. With its unique formulation and strategic partnerships, Innovent aims to carve out a significant share of this lucrative market. However, as competition intensifies and local alternatives emerge, the future landscape of weight-loss therapies in China remains uncertain. As the market continues to develop, the focus will likely shift toward not only efficacy but also affordability and accessibility for patients seeking effective weight management solutions.
