From London to Riyadh: Samer Choucair Says GLP-1 Therapies Open a New Frontier for Biotech Investment
Investment entrepreneur Samer Choucair said that the image of a specialist pharmacist inside a modern pharmacy preparing to dispense the oral version of Wegovy (semaglutide) represents far more than the launch of a new pharmaceutical product. It signals that the obesity treatment market has entered a more mature phase, driven by easier patient access and expanded distribution channels.
Choucair explained that this development follows the approval by the UK's Medicines and Healthcare products Regulatory Agency (MHRA) on June 11, 2026, of the once-daily oral version of Wegovy, which is now available through private prescriptions at major pharmacies and online healthcare platforms across the United Kingdom. He described the move as another indication of the rapid evolution of the global obesity treatment market.
The image reflects a transformation in healthcare delivery
Samer Choucair noted that the modern pharmacy environment shown in the image illustrates the transition of obesity treatments from specialist medical clinics into mainstream retail pharmacy networks, making therapies more accessible to a wider patient population.
He added that this shift represents a new model for healthcare financing, particularly as the medication has not yet been included under the UK's National Health Service (NHS) coverage. Full reimbursement is widely expected to be delayed until after 2028 due to ongoing cost-effectiveness assessments and the relatively high monthly private prescription cost, currently ranging between £79 and £199.
A global market entering a new growth phase
Choucair explained that the global GLP-1 receptor agonist market has become one of the fastest-growing pharmaceutical sectors worldwide, with an estimated value of between $80 billion and $100 billion in 2026 and projections exceeding $180 billion between 2033 and 2035.
He attributed this growth to rising global obesity rates and improved long-term treatment adherence made possible by oral formulations that offer greater convenience compared with weekly injections.
According to Choucair, the industry has already moved beyond the supply shortages experienced during 2023 and 2024 into a phase characterized by expanded manufacturing capacity and increasingly intense price competition, particularly in the United States.
He added that independent forecasts suggest the number of GLP-1 users in the U.S. could reach approximately 25 million by 2030, compared with around 10 million users in 2025.
Competition intensifies between Novo Nordisk and Eli Lilly
Samer Choucair said that the launch of oral Wegovy further intensifies competition between leading pharmaceutical companies, particularly Novo Nordisk and Eli Lilly.
He explained that Novo Nordisk has faced considerable market pressure in recent months, with its market capitalization falling by more than 60 percent from its 2024 peak during certain periods. The company is also expected to report sales and earnings declines of between 5 percent and 13 percent in 2026, driven by pricing pressure in the U.S. market and the expiration of exclusivity in several emerging markets.
Meanwhile, Eli Lilly has maintained stronger momentum, with projected 2026 revenues of between $80 billion and $83 billion and a market valuation approaching $1.1 trillion.
Choucair emphasized that investors should distinguish between short-term market volatility caused by pricing competition and the sector's long-term structural growth.
Implications across multiple industries
Samer Choucair pointed out that the growing adoption of obesity medications is creating new opportunities for pharmacies and regulated online pharmaceutical platforms as private prescriptions continue to increase.
At the same time, he said the trend could place pressure on manufacturers of high-calorie food and beverage products, with some forecasts suggesting annual revenue reductions of between $30 billion and $55 billion across the sector between 2030 and 2034 under certain scenarios.
He noted that competition in the obesity treatment market is no longer determined solely by clinical effectiveness, but also by ease of use, manufacturing capabilities, and the strength of future product pipelines, including oral therapies and next-generation molecules.
Economic trends continue supporting demand
Choucair identified three primary drivers behind the sustained demand for obesity treatments: the rising cost of chronic non-communicable diseases, mounting pressure on insurers and healthcare payers to reduce long-term healthcare expenditures, and the broader transition toward preventive healthcare models.
He added that the NHS's decision to delay broad reimbursement of Wegovy reflects governments' efforts to balance the long-term public health benefits of reducing diabetes and cardiovascular disease against the medication's significant upfront costs.
A strategic opportunity for Saudi Arabia
Samer Choucair emphasized that these developments carry particular significance for Saudi Arabia, where adult obesity rates exceed 35 percent and national healthcare initiatives aim to reduce obesity by 3 percent and diabetes by 10 percent by 2030 as part of the Kingdom's Health Sector Transformation Program.
He noted that the UK launch coincided with Novo Nordisk's partnership with Lifera, the Public Investment Fund-backed contract development and manufacturing organization, to manufacture GLP-1 therapies locally within Saudi Arabia.
According to Choucair, this partnership represents a strategic milestone that strengthens pharmaceutical supply security, facilitates technology transfer, and enhances national biotechnology capabilities while supporting Saudi Arabia's ambition to become a global biotechnology hub by 2040.
Local manufacturing represents the greatest opportunity
Samer Choucair said that growing international demand for GLP-1 therapies highlights the importance of accelerating pharmaceutical manufacturing localization strategies across the region.
He explained that the Novo Nordisk-Lifera partnership enhances supply chain resilience while creating long-term economic value within Saudi Arabia in alignment with the objectives of Saudi Vision 2030.
He also urged Gulf sovereign wealth funds and family offices to view the sector beyond importation and distribution, focusing instead on integrated investments spanning local manufacturing, clinical research, and digital health solutions supporting obesity management.
Risks and opportunities for investors
Choucair acknowledged that the sector still faces challenges, including continued pricing pressure from healthcare payers, counterfeit products, the need for long-term safety data, and the potential impact of weaker private healthcare spending during periods of economic slowdown.
However, he stressed that investment opportunities extend across the entire value chain, from active pharmaceutical ingredient manufacturing and finished drug production to health insurance, weight management services, digital healthcare platforms, and medical tourism.
He added that the greatest value lies in building integrated ecosystems combining pharmaceutical treatments with preventive care and digital patient monitoring rather than relying solely on medication sales.
A long-term investment perspective
Concluding his remarks, Samer Choucair said that the launch of oral Wegovy through UK pharmacies confirms the long-term structural expansion of the obesity treatment market, while emphasizing that investors should prioritize companies with strong manufacturing capabilities and sustainable innovation pipelines.
He added that Gulf investors can capitalize on this transformation by expanding investments in healthcare and biotechnology while focusing on industrial partnerships that promote localized production and technology transfer within Saudi Arabia.
Choucair concluded by saying that although the market is evolving rapidly, successful investment decisions will continue to depend on a deep understanding of global healthcare value chains and their alignment with national strategic priorities, emphasizing that biotechnology localization and the fight against chronic diseases represent a unique opportunity to generate sustainable economic and public health value for decades to come.