In 1990, a team of Harvard researchers and a small biotech startup had human data proving that a molecule called GLP-1 could lower blood sugar in diabetics, suppress hunger, and slow digestion. It worked. The science was solid. The patent was held.
Their partner, Pfizer — one of the largest pharmaceutical companies on earth — reviewed the data and walked away. Not because the drug failed. Because, as Jeffrey Flier, former dean of Harvard Medical School and one of the researchers in the room, later wrote, Pfizer concluded that “nobody would ever want an injectable diabetes drug.” The market didn’t see the profit. So the program died.
The patents sat dormant. Novo Nordisk eventually picked them up in 1992, spent the next two decades engineering a stable, once-weekly injectable form of the molecule, and in 2017 released it as Ozempic. It is now one of the best-selling drugs in human history, generating tens of billions of dollars annually. Flier, now in his late 70s, finally wrote the whole story down because — as he put it — he didn’t want the history to die with him.