HK Stock Market Move | PEGBIO CO-B(02565) increased by more than 15%, GLP-1 weight loss drug enters Middle East and Africa.

PEGBIO CO-B (02565) rose by over 15%, reaching 6.29% at the time of publication, and was reported at HKD 56.65 with a turnover of HKD 9.9416 million. On the news front, PegBio Biopharmaceuticals announced last month the granting of an exclusive license to the leading medical research and development institution in the United Arab Emirates, PDC FZ-LLC, for the development, distribution, marketing, and commercialization of their core product Visepegenatide (PB-119) in the Middle East and Africa regions. Visepegenatide (PB-119) is a weekly subcutaneous injection GLP-1 receptor agonist developed independently by PegBio for the treatment of type 2 diabetes and weight management. The company believes that through this collaboration, leveraging PDC's local advantages will facilitate the rapid development, registration, and commercialization of Visepegenatide (PB-119) in the Middle East and Africa regions, creating long-term value for the company and bringing new hope to global metabolic disease patients. According to data from the International Diabetes Federation (IDF), the prevalence of diabetes in adults in the Middle East and North Africa region reaches as high as 16.2%, ranking first globally. Gastrointestinal and metabolic drugs (including diabetes treatments) are the largest therapeutic area in the pharmaceutical market in this region, accounting for 20.4% of market share and experiencing a significant growth of 22.1% in the first quarter of 2025. Meanwhile, the global market for weight management drugs has steadily grown from $99.7 billion in 2020 to $112.8 billion in 2024, with a compound annual growth rate of 3.1%. It is projected to reach $277.4 billion by 2034, with the demand for weight management drugs in the Middle East and Africa region expected to be the highest in the world, reaching billions of dollars by 2034.