On July 11, Pfizer (NYSE: PFE) made an announcement that came as a bit of a surprise to biopharma industry experts and Wall Street analysts alike. It's planning on advancing one of its early-stage weight loss programs into mid-stage trials. In due time, the move could make it a direct competitor to the weight loss market's tycoons, Novo Nordisk and Eli Lilly.

Alas, shareholders are more likely to be left wanting than they are to experience a significant gain from the company's move. Here's why the odds aren't in Pfizer's favor, and what it means for investors.

It makes sense why Pfizer wants to compete in the market for weight loss therapies. There's more than one credible estimate calling for the size of the anti-obesity drugs market to surpass $100 billion in annual sales by 2030. And with Eli Lilly and Novo Nordisk gobbling up market share today, the later a new player shows up to the scene, the higher the probability that they'll need to wage a costly fight against the incumbents to stake out territory of their own.

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Source Fool.com