Cross-Sector Market Intelligence
on GLP-1 & Metabolic Health

The roles reverse. Novo Nordisk — holding a PBAC recommendation and a ministerial commitment — could not agree a price and has lodged a revised Wegovy proposal, leaving the landmark PBS listing stalled and undated. Eli Lilly, which walked away in April, now says it "definitely wants" Mounjaro listed and will accept UK or Canadian pricing. Meanwhile the UK approved and began dispensing its second oral GLP-1 while both Australian applications sit undecided at the TGA — leaving Australia behind on both access routes at once, with every obesity prescription written here still a private, unsubsidised transaction.

• Novo rejects Wegovy PBS terms; revised proposal lodged
• Lilly reverses: "We definitely want Mounjaro on the PBS"
• UK first in Europe to authorise orforglipron; both oral GLP-1s still pending at the TGA
• Grey market sells Mounjaro at $750 — double the pharmacy price
• China's generics delayed to April 2027 by a Swiss trade agreement
• Retatrutide completes five positive Phase 3s; Q1 2027 filing
• Mounjaro +91% as China's NRDL listing cuts realised price 13%
• Chinese obesity innovators reach the West via Australian trial sites
• EY models 17–30% adult adoption by 2036; 17% of households already users