Shanghai Shiling Pharmaceutical is aiming to complete global clinical trials by 2028 for an experimental weight-management spray that uses the same active ingredient as Novo Nordisk's Wegovy obesity injection, the Chinese biotech said on Tuesday.

Danish drugmaker Novo NOVOb.CO, Eli Lilly LLY.N and China's Innovent Biologics 1801.HK have been fighting for market share in China as patients in the world's second-largest pharmaceutical market turn to highly effective once-weekly injections like Wegovy, containing semaglutide.

Shiling said in a statement to Reuters that its semaglutide nasal spray under development would be particularly suitable for long-term use, and the experimental drug's cost was also lower than tablets containing semaglutide.

It added that after completing trials it would advance into major pharmaceutical markets. It said it holds patents in China, the U.S., Europe and Southeast Asia.

Novo, whose patent on the semaglutide ingredient is set to expire in China in March, did not immediately respond to a request for comment. Some Chinese drugmakers are also developing their own versions of Wegovy ahead of the expiration.

-Andrew Silver/Reuters