The next big shake-up in the GLP-1 market? (Part 1 of 3)

This is Beyond Biotech and today we're launching a special three part series on GLP-1s and the future of metabolic health. A series we're calling The Metabolic Moment. In just a few years, GLP-1s 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. GLP-one drugs have gone from a diabetes niche to one of the biggest stories in modern medicine. Today, the market is at a turning point. Patents are expiring in India, China, and Canada, and generics are on the horizon. Pills are challenging injections, Amgen is testing a monthly drug, and GLP-1s are moving into heart, kidney, and liver disease. All the while, Novo and Eli Lilly hold a tight grip on the field. So what happens next? Will new players break through, or will this market consolidate through M and As? To help us make sense of it, I'm joined by Valeria Simenovskia, founder and CEO of Bio Brokers, an independent capital markets and strategic advisory firm for the life sciences. Trained at Harvard Medical School and based in Paris, Valeria tracks where the money in biotech is flowing. Valeria, welcome to Beyond Biotech. Hi, Dylan. Thank you so much for having me. I'm really happy to be here. Now you're the founder, you're the CEO of Bio Brokers, which is an independent capital markets and strategic advisory firm that works in biotech and life sciences. Tell me, what does BioBrokers actually do day to day? What sort of clients are you working with? BioBrokers sits at the intersection of science, capital, and deal making. We work with biotech and life sciences companies. They are raising capital, looking for strategic partners, exploring licensing opportunities, or preparing for M and A. My role is really to connect the dots between the science and the transaction, understand what makes a company or technology compelling, sharpen the investment story, identify the right investors or strategic partners, and stay involved through introductions, diligence and the real process. We also work from the other side of the table, helping investors to identify opportunities they might otherwise miss. You trained at Harvard Medical School, right, before moving into this capital markets and advisory work. Did that background end up shaping the way that you're looking at deals, the way you're looking at markets? Well, my academic background is in psychiatry and neuroscience, and I later completed additional training in oncology, autoimmunity, drug development, and modern treatments through Harvard Medical School that absolutely affects how I look at deals. I don't …