Eli Lilly expanded its obesity playbook with a licensing agreement with Nimbus Therapeutics worth up to $1.3 billion to develop an oral obesity therapy, while early clinical data from Arrowhead Pharmaceuticals showed that its RNAi candidates—when combined with Lilly’s tirzepatide—produced substantive reductions in weight, visceral fat and liver fat in small cohorts. Lilly’s Nimbus pact includes upfront and milestone payments and extends Lilly’s strategy of coupling small molecules with its broad metabolic portfolio. Arrowhead’s interim data signaled proof-of-concept for adipose-targeting RNAi approaches, prompting advancement to Phase 2 development. Together, the transactions and data underscore heavy investment in complementary mechanisms to incretin therapies and reflect pharma urgency to capture market share in the rapidly evolving obesity therapeutic landscape.