According to the new Novartis announcement, the company plans to jointly invest 450 million yuan to establish a joint venture with Zhongqi Pharmaceutical, of which the company plans to invest 158 million yuan with its own capital, accounting for 35% of the registered capital of the joint venture. The joint venture plans to focus on R&D, industrialization and commercialization of innovative metabolic drugs, mainly focusing on GLP-1 targets and related products, covering treatment fields such as overweight/obesity and type 2 diabetes, and continuously developing new drugs and expanding indications. After the establishment of the joint venture, it will undertake all GLP-1 targets and other related product pipelines under CSPC Pharmaceutical Group Co., Ltd.

According to the new Novartis announcement, the company plans to jointly invest 450 million yuan to establish a joint venture with Zhongqi Pharmaceutical, of which the company plans to invest 158 million yuan with its own capital, accounting for 35% of the registered capital of the joint venture. The joint venture plans to focus on R&D, industrialization and commercialization of innovative metabolic drugs, mainly focusing on GLP-1 targets and related products, covering treatment fields such as overweight/obesity and type 2 diabetes, and continuously developing new drugs and expanding indications. After the establishment of the joint venture, it will undertake all GLP-1 targets and other related product pipelines under CSPC Pharmaceutical Group Co., Ltd.