Metabolic & Obesity Deal Benchmarks
The GLP-1 and obesity licensing race is the hottest segment in biopharma. Benchmark deal terms across next-gen incretins, oral GLP-1s, NASH/MASH, and diabetes with $25B+ in verified metabolic deal value. Benchmarks derived from 287 verified transactions.
287
Total Deals
$165M
Avg Upfront
6
Deal Types
100%
Terms Disclosed
Deal Structure Distribution
160
license
58
acquisition
51
collaboration
14
option
2
co development
Recent Deals with Disclosed Terms
| Parties | Type | Upfront | Total Value | Date |
|---|---|---|---|---|
Hengrui Pharma → Novo Nordisk HRS-1596 | license | $300M | $2.6B | Sep 2026 |
Hanmi Pharmaceuticals → Genentech (Roche Group) HM17321 | license | $190M | $2.3B | Sep 2026 |
Aspect Biosystems → Novo Nordisk Expanded diabetes cell-therapy collaboration (up to four programs) | collaboration | $75M | $2.6B | Sep 2026 |
Gan & Lee → Menarini Group bofanglutide (GZR18) | license | $68M | $928M | Sep 2026 |
Gan & Lee Pharmaceuticals → Menarini Group Bofanglutide | license | $68M | $799M | Sep 2026 |
Hanmi Pharmaceutical → Roche HM17321 | license | $190M | $2.3B | Aug 2026 |
Hanmi Pharmaceutical → Genentech HM17321 | license | $190M | $2.3B | Aug 2026 |
Hanmi Pharmaceutical → Roche/Genentech HM17321 | license | $190M | $2.3B | Aug 2026 |
Hanmi Pharm → Genentech (Roche) HM17321 | license | $190M | $2.3B | Aug 2026 |
Hanmi Pharm → Roche HM17321 | license | $190M | $2.3B | Aug 2026 |
Benchmark Your Metabolic & Obesity Deal
Get instant benchmarks for upfront payments, milestones, and royalties based on 287 verified metabolic & obesity transactions.
Metabolic & Obesity Deal Benchmarking FAQ
How have GLP-1 deals reshaped metabolic deal benchmarks?
GLP-1 receptor agonist deals have dramatically raised metabolic deal valuations since 2023. Next-gen incretin deals (dual and triple agonists, oral formulations) now command upfronts of $100M-$500M+ with total deal values regularly exceeding $2B. The obesity market expansion has made metabolic deals among the most competitive in all of biopharma.
What are current deal terms for oral GLP-1 licensing agreements?
Oral GLP-1 licensing deals are commanding premium terms given the massive commercial opportunity of convenient dosing. Upfronts for clinical-stage oral GLP-1 assets range $200M-$500M+, with royalties of 15-25% reflecting the differentiated market position. Companies are competing aggressively for oral formulation technology platforms.
Are NASH/MASH deal terms recovering after clinical setbacks?
NASH/MASH deal activity has stabilized following the FDA approval of resmetirom in 2024. New deals are increasingly structured with risk-sharing milestones tied to histological endpoints. Upfronts have moderated ($30M-$100M for Phase 2 assets) but total deal values remain substantial given the large addressable liver disease market.