Novo Nordisk licenses Hengrui obesity pill in $2.6 billion deal
Novo Nordisk agreed to pay up to $2.6 billion to license HRS-1596 from Jiangsu Hengrui Pharmaceuticals, with $300 million paid immediately and $2.3 billion contingent on clinical, regulatory and commercial milestones plus royalties. HRS-1596 is a dual GLP-1/GIP receptor agonist in early clinical testing and is being developed as a once-weekly oral medication; Chinese regulators have approved phase 1 studies for obesity and type 2 diabetes. Novo obtained worldwide rights excluding mainland China, Hong Kong, Macao and Taiwan, plans international trials, and expects closing by Q4 2026 pending U.S. antitrust clearance.
Novo paid $300 million upfront for HRS-1596 rights
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Novo's shares fell more than 70% from peak amid strong competition from Eli Lilly. China…
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