Pfizer struck a licensing and collaboration deal giving it global rights to a once‑daily oral GLP‑1 small molecule from Yaopharma (Fosun subsidiary), paying $150 million upfront as part of a larger transaction. The asset is in Phase 1 testing and is being positioned for combination strategies in obesity and metabolic disease. Pfizer’s move follows an aggressive push to broaden its obesity portfolio and comes amid wider industry consolidation and partnerships to capture oral GLP‑1 opportunities. The company sees the small molecule as complementary to injectables and as part of potential combo regimens. The deal points to continued big‑pharma interest in oral alternatives to peptide GLP‑1s, and signals growing cross‑border licensing activity into U.S. and global development channels.