Welcome to a special three-part series called 'The Metabolic Moment'.

In just a few years, GLP-1 drugs have become a phenomenon. They’ve transformed how we treat diabetes and obesity, created one of the biggest markets in pharma, and sparked a cultural conversation that reaches far beyond the clinic. Now that market is shifting. Cheaper alternatives are coming, new mechanisms are entering trials, and some companies are aiming for something closer to a cure.

So what happens next for patients, for the companies leading the field, and for the startups hoping to overtake them? Across three conversations, we’ll follow the money, the science, and the people behind this metabolic moment.

In part one of our series, I’m joined by Valeriia Simanovskaia, founder and CEO of BioBrokers, an independent capital markets and strategic advisory firm for life sciences. Trained at Harvard Medical School and based in Paris, Valeriia tracks where the money in biotech is flowing.

• 02:15 Meet Valeriia and BioBrokers
• 09:07 Discontinuation rates and what they mean for GLP-1 sales
• 12:39 Generic semaglutide arrives in India and Canada
• 16:28 Why oral GLP-1s may become a separate market segment
• 22:15 Amgen’s MariTide and the case for monthly dosing
• 32:00 Why weight maintenance is the next competitive frontier

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To dive deeper into the topic:

• The Metabolic Moment: 3 big bets to watch in metabolic disease
• Beyond Ozempic: the GLP-1 landscape in 2026
• Nine biotech companies that could revolutionize obesity treatments