China’s Hengrui Inks up to $2.6 Billion Deal with Novo Nordisk for Obesity Drug
Novo gains exclusive rights to develop and sell HRS-1596 outside Greater China, while Hengrui could receive $2.3 billion more in milestone payments.
- On Tuesday, Jiangsu Hengrui Pharmaceuticals agreed to license its weight-management drug HRS-1596 to Novo Nordisk A/S in a deal valued at up to $2.6 billion.
- The experimental GLP-1 pill, HRS-1596, is currently approved for Phase-I clinical trials in China, with potential for once-weekly oral administration improving convenience versus injections.
- Under the agreement, Novo will pay $300 million upfront while Hengrui becomes eligible for up to $2.3 billion in development and commercial milestone payments.
- This partnership targets a booming weight-loss market expected to generate about $100 billion in annual sales, as Novo recovers from a more than 70% share price decline amid stiff competition from rival Eli Lilly.
- Following the announcement, Hengrui shares in Hong Kong rose about 3%, while Novo confirmed plans for global trials without disclosing specific development timelines.
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Novo has signed a licensing agreement with China's Hengrui Pharma for the development of an innovative weight loss treatment, in a transaction with potential value that can reach up to US$ 2.6 billion. Exclusive material for subscribers. To have full access, access the material link and register.
The Danish giant Novo Nordisk has signed a millionaire agreement to obtain the rights of an experimental drug manufactured in China.
Novo Nordisk to license experimental GLP-1 pill from China’s Hengrui - Regional Media News
Sept 29 (Reuters) - Novo Nordisk will pay $300 million upfront to Jiangsu Hengrui Pharmaceuticals for the rights to an experimental GLP-1 pill, the Chinese drugmaker said on Tuesday. The deal gains Novo a further potential revenue stream in the booming weight loss market, which [...]
Novo Nordisk has acquired the global licensing rights to Jiangsu Hengrui Pharmaceuticals' experimental oral GLP-1 drug for an upfront payment of $300 million, the Chinese pharmaceutical company announced.
The Danish pharmaceutical company places great hopes in an experimental anti-absorbent from China. In a billion-dollar deal, the company secures the worldwide license.
A new deal gives Novo exclusive rights to sell a Chinese weight loss pill in most of the world
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