Novo Nordisk has signed an exclusive licensing agreement with Chinese drugmaker Hengrui Pharma for HRS-1596, an experimental once-weekly oral weight-loss drug candidate. The deal could be worth up to $2.6 billion. It includes a $300 million upfront payment, future milestone payments and royalties.
Novo Nordisk gains exclusive rights to develop, manufacture and commercialize HRS-1596 worldwide, except in Greater China, where Hengrui will retain those rights.
HRS-1596 is phase 1-ready and works as a GLP-1/GIP dual receptor agonist. Its mechanism is similar to that of some existing injectable treatments for obesity and diabetes.
The deal aims to offer greater convenience than current daily oral options and strengthen Novo Nordisk’s position in the cardiometabolic market.