Changes in Hong Kong stocks | Hengrui Pharmaceuticals (01276) rose nearly 5% in early trading HRS-1596 authorized Novo Nordisk's potential transaction volume to reach up to US$2.6 billion

The Zhitong Finance App learned that Hengrui Pharmaceutical (01276) rose nearly 5% in early trading. As of press release, it rose 4.87% to HK$47.82, with a turnover of HK$118 million.

According to the news, on September 29, Hengrui Pharmaceutical officially announced that it had reached an exclusive licensing agreement with Novo Nordisk. The two sides reached a global licensing agreement for the self-developed innovative drug HRS-1596. HRS-1596 is a glucagon-like peptide-1 (GLP-1) and gastric suppressive peptide (GIP) dual receptor agonist that has the conditions to conduct phase I clinical trials, and is expected to achieve oral administration once a week.

Under the terms of the agreement, Novo will obtain exclusive rights to develop, manufacture and commercialize HRS-1596 globally outside of China. 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.