March 24 (Reuters) - Danish drugmaker Novo Nordisk

has secured the global rights to develop, manufacture

and sell China-based United Laboratories International's ( ULIHF )

weight-loss drug candidate in a deal worth up to $2

billion.

The Chinese investment holding company said on Monday that

as part of the licensing agreement with a United Labs ( ULIHF ) unit, Novo

will make an upfront payment of $200 million and up to $1.8

billion upon the completion of certain development and sales

milestones.

The global obesity treatment market, estimated to be worth

$150 billion in the next decade, is currently dominated by the

GLP-1 class of treatments such as Novo Nordisk's Wegovy and Eli

Lilly's ( LLY ) Zepbound.

United Biotechnology will retain the rights for the drug

candidate, UBT251, in China mainland, the Hong Kong Special

Administrative Region, the Macau Special Administrative Region

and Taiwan, United Labs ( ULIHF ) said.