Hengrui Pharmaceutical (01276) licensed HRS-1596's exclusive overseas rights to Novo Hoe, with a potential transaction value of up to US$2.6 billion

Zhitong Financial App News, Hengrui Pharmaceutical (01276) announced that the company reached an agreement with Novo Nordisk A/S (hereinafter referred to as “Novo”) to license Hengrui's potential weekly oral administration of glucagon-like peptide-1 (GLP-1) and gastric suppressive peptide (GIP) dual agonist HRS-1596 (hereinafter referred to as “HRS-1596”) for a fee. Novo will obtain exclusive rights to develop, manufacture, and commercialize HRS-1596 on a global scale outside of Greater China. The deal's potential total transaction value could be up to $2.6 billion, including a $300 million down payment and payments received after reaching relevant development, registration, and commercialization milestones. Additionally, Hengrui will be eligible to receive a corresponding sales commission based on HRS-1596's net sales in authorized regions.

According to reports, HRS-1596 is a GLP-1/GIP dual receptor agonist independently developed by Hengrui. 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. HRS1596 is expected to achieve weekly oral administration, which can significantly reduce the frequency of administration and improve the convenience of medication compared to existing treatment options. Hengrui has been approved in China to conduct phase I clinical trials of HRS-1596 for weight management and type 2 diabetes.

Novo Nordisk A/S (Novo Nordisk A/S) is a leading global biopharmaceutical company headquartered in Copenhagen, the capital of Denmark, and listed on the Copenhagen NASDAQ (stock code: NOVO-B) and the New York Stock Exchange (stock code: NVO). Novo has approximately 67,000 employees in 80 countries and regions around the world, providing products and services to more than 170 countries and regions around the world.