New investigational obesity drugs that target multiple gut hormones—examples include Cagrisema and retatrutide—are reporting weight‑loss magnitudes that exceed current GLP‑1 therapies in early data. Companies developing multi‑agonists say the mechanism combines GLP‑1 activity with additional hormonal pathways to deepen appetite suppression and metabolic effects. While efficacy signals are compelling, experts flagged questions about safety, tolerability and the appropriate therapeutic window as weight‑loss magnitudes increase. The field faces tradeoffs between greater efficacy and potential for more complex adverse‑event profiles. Payers and regulators will need to weigh clinical benefit versus long‑term safety data as these agents move through later‑stage trials; the next generation of drugs could intensify competition and reshape market share in obesity therapeutics.