By Tracy Qu

Pfizer has acquired exclusive rights to commercialize an obesity therapy in China in a deal worth up to $495 million.

The U.S. drugmaker reached an agreement with Hangzhou Sciwind Biosciences for ecnoglutide, a drug recently approved by Chinese regulators to treat diabetes, according to a statement posted on WeChat on Tuesday. The therapy is also under regulatory review for obesity treatment, the statement said.

The potential $495 million payment includes an upfront fee as well as regulatory and milestone payments, Sciwind said.

The collaboration with Sciwind "marks a significant milestone in accelerating Pfizer's long-term strategic footprint in the metabolic field," said Pfizer China president Jean-Christophe Pointeau in the statement.

Chinese biotech companies are increasingly partnering with overseas drugmakers. Earlier this month, Innovent Biologics announced a collaboration with Eli Lilly that includes up to $8.5 billion in milestone payments.

Write to Tracy Qu at tracy.qu@wsj.com

(END) Dow Jones Newswires

February 23, 2026 23:47 ET (04:47 GMT)

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