Obesity Deal Surge, FDA Turbulence and CTAD Breakthroughs Reshape 2026 Biopharma Strategy
SHERIDAN, WYOMING - December 11, 2025 - A new convergence of obesity dealmaking, regulatory uncertainty at the U.S. Food and Drug Administration (FDA) and fresh neurology data out of the Clinical Trials on Alzheimer's Disease (CTAD) conference is forcing biopharma executives to recalibrate their 2026 playbooks across R&D, partnering and risk management.
Obesity Dealflow Enters a More Competitive, High-Stakes Phase
Pfizer continues to double down on cardiometabolic disease, following its $10 billion acquisition of obesity startup Metsera with an exclusive collaboration to license YaoPharma's oral GLP-1 receptor agonist YP05002. Together with other emerging oral and peptide GLP-1s, this next wave of assets is pushing obesity beyond a single-product, single-modality market and into a diversified, highly competitive landscape.