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Pharmaceutical sector at risk from GLP-1 'bubble effect' as weight loss drugs dominate R&D returns
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Business·04.05.2026Resumen IA

Pharmaceutical sector at risk from GLP-1 'bubble effect' as weight loss drugs dominate R&D returns

Deloitte research reveals pharmaceutical R&D returns for top 20 companies reached 7% in 2025, the highest in years, driven almost entirely by GLP-1 weight loss and diabetes drugs. However, excluding these assets, returns plummet to just 2.9%. For the first time in 16 years, obesity treatments have surpassed oncology as the largest contributor to late-stage pipeline value, raising concerns about concentrated risk and a potential bubble effect.

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