Curated News
By: NewsRamp Editorial Staff
May 17, 2024

Global Obesity Study Prompts Acquisition of Muscle Loss Prevention Assets and Launch of New Subsidiaries

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Source News Release

TLDR

  • The global market for anti-obesity drugs reached $6 billion in 2023, projected to grow 16-fold to $100 billion by 2030.
  • Elevai Labs acquired exclusive rights to EL-22 and EL-32 assets which have the potential to limit muscle loss in combination with GLP-1 obesity treatments.
  • Elevai Labs' acquisition of muscle loss prevention assets aims to provide an unmet need in the anti-obesity drug market and expand their brand into a large and growing multi-billion-dollar market.
  • The potential side effect of GLP-1 drugs highlighting a need for new or coinciding treatments that can address obesity while limiting such side effects.

Impact - Why it Matters

The global obesity crisis affects over 1 billion people, prompting a growing demand for solutions. Elevai Labs' acquisition of muscle loss prevention assets and launch of new subsidiaries offers hope for addressing this problem and reshaping the future of medical aesthetics and biotech.

Summary

A new study reveals that around 1 billion people globally are living with obesity, with the number of obese adults having doubled since 1990 and quadrupled among children and adolescents. The demand for solutions to escalating obesity rates is only growing, with the global market for anti-obesity drugs projected to experience a significant increase to $100 billion by 2030. Novo Nordisk and Eli Lilly And Co are leading the global growth of anti-obesity drugs with drugs such as Ozempic® and Wegovy®. However, concerns about potential side effects highlight a need for new treatments.

Addressing this problem, Elevai Labs Inc. has acquired exclusive rights to two new assets that have the potential to limit muscle loss, providing an opportunity to expand into a large and growing multi-billion-dollar market. The company also announced the launch of two new subsidiaries — Elevai Biosciences and Elevai Skincare, focusing on aesthetic medicines and skincare solutions respectively.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Global Obesity Study Prompts Acquisition of Muscle Loss Prevention Assets and Launch of New Subsidiaries

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