Roche has acquired rights to an obesity therapy by Denmark's Zealand Pharma in a collaboration deal worth up to $5.3 billion, as the Swiss drugmaker seeks to boost its prospects in the booming weight-loss market.

Several weight loss drug stocks are sliding today as pharmaceutical companies battle for dominance in the booming GLP-1 market — which is projected to hit $105 billion by 2030, according to Morgan Stanley (MS) analysts.

Roche is increasing its investment into the obesity space with an up to $5.3 billion deal with Danish drugmaker Zealand Pharma , the companies announced Wednesday. The deal would

Roche and Zealand Pharma inked a $5.3 billion deal Wednesday to collaborate on a weight-loss drug in the amylin class.

Viking Therapeutics (VKTX) stock gains as Roche (RHHBY) and Zealand Pharma's (ZLDPF) $5.3B deal for obesity drugs lifts weight loss drug stocks. Read more here.