Hengrui Pharmaceutical (01276) and Novo reached an exclusive licensing agreement for the weekly oral administration of the GLP-1/GIP dual receptor agonist HRS-1596

The Zhitong Finance App learned that on September 29, Hengrui Pharmaceutical (600276.SH; 01276) announced that it had reached a license agreement with Novo Nordisk (Novo Nordisk, hereinafter referred to as “Novo”) for HRS-1596. HRS-1596 is a glucagon-like peptide-1 (GLP-1) and gastric suppressive peptide (GIP) dual receptor agonist that is ready for phase I clinical trials, and is expected to be administered orally once a week.

Under the terms of the agreement, Novo will obtain exclusive rights to develop, manufacture and commercialize HRS-1596 on a global scale outside mainland China, Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan. The deal's potential total transaction value could reach up to $2.6 billion, including a $300 million down payment and payments received after reaching relevant development, registration, and commercialization milestones. Additionally, Hengrui Pharmaceutical will be eligible to receive a corresponding sales commission based on HRS-1596's net sales within the authorized region.

“Hengrui is committed to continuous innovation to bring better treatment solutions to patients. HRS-1596 is expected to achieve weekly oral administration, making it more convenient for patients to take medication. This is the result of the company's continuous innovation in the field of metabolic diseases.” Dr. Jiang Ningjun, Executive Vice President and Chief Strategy Officer of Hengrui Pharmaceutical, said, “This collaboration will give full play to Hengrui's innovative advantages and Novo's global strengths in GLP-1 therapy and obesity treatment, and work together to promote this innovative treatment to benefit patients around the world.”

“Novo is a pioneer in the field of oral peptides. As a leading company in this field, we rely on strong independent research and leading external innovation to continuously expand and deepen our oral drug pipeline covering obesity, diabetes, and other cardiovascular and metabolic diseases.” Dr. Martin Holst Lange, Executive Vice President and Chief Scientific Officer of Novo Research and Development, said, “Hengrui Pharmaceutical is patient-centered and has outstanding strength in the discovery and development of innovative therapies. We look forward to incorporating HRS-1596 into Novo's continued expansion pipeline to explore its potential and raise standards of treatment convenience in this field.”

HRS-1596 aims to reduce weight and improve blood sugar control through multiple mechanisms such as suppressing appetite, promoting insulin secretion, and improving insulin sensitivity, and has potential for obesity, type 2 diabetes, and other metabolic diseases. HRS-1596 is expected to be administered orally once a week. Compared with existing treatment options, it can significantly reduce the frequency of medication and improve the convenience of medication use. Hengrui Pharmaceutical has been approved in China to conduct phase I clinical trials of HRS-1596 for weight management and type 2 diabetes.

The license agreement is subject to approval by relevant regulators and other customary delivery conditions in accordance with the US Hart Scott Rodino Antitrust Improvement Act. The deal is expected to close in the fourth quarter of 2026.