Obesity catalysts in 2026

Heading into 2026 the obesity race is widening, with recent readouts teeing up new mechanisms and new players that could challenge today’s GLP-1 standard on efficacy or convenience. The year is also set to bring multiple Phase III catalysts, along with a steady stream of proof-of-concept readouts.

Yet 2026’s biggest obesity catalyst — the launch of oral GLP1R agonists — remains limited to the field’s two titans: Eli Lilly and Co. (NYSE:LLY) and Novo Nordisk A/S (CSE:NOVO-B; NYSE:NVO). Novo went first, launching oral Wegovy semaglutide this month; early indicators suggest strong uptake. Lilly expects FDA approval of the first small molecule GLP1R agonist, orforglipron, in the second quarter. ...