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The state’s celebrated cluster of biotechs has hatched breakthrough medicines for everything from COVID and cystic fibrosis to multiple rare diseases. It has pioneered cutting-edge research in exotic fields like messenger RNA, gene editing, and gene therapies.

But when it comes to what is arguably the hottest space in drug development today — controlling weight and diabetes for millions of people worldwide — the brainy innovators from Kendall Square have missed out on the booming market, at least so far.

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Instead, the field, which has scientific roots in Massachusetts, is dominated by a pair of global pharma giants: Denmark’s Novo Nordisk, maker of the blockbuster drugs Wegovy and Ozempic, and Indianapolis-based Eli Lilly, which produces the fast-selling Mounjaro.

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