Gan & Lee Pharmaceuticals announced that its independently developed GZR18 is currently undergoing Phase III clinical trials in China, and the first subject was successfully dosed recently. GZR18 is a long-acting glucagon-like peptide-1 receptor agonist designed to treat type 2 diabetes in adults and weight management in obese/overweight individuals. As of the date of the announcement, the weekly formulations of GLP-1 receptor agonists used for blood sugar control in patients with type 2 diabetes and weight control in obese/overweight patients in China mainly include Novo Nordisk's semaglutide. In the first three quarters of 2024, semaglutide sales in China were DKK 4.913 billion, of which Wegovy® for weight control had sales of DKK 166 million in China. As of September 30, 2024, Gan & Lee Pharmaceuticals has invested a total of RMB 284 million in research and development expenses in the GZR18 injection project.