Gan & Lee Licenses Obesity Drug Bofanglutida to Menarini for €726M
Beijing/Florence – September 09, 2026 -- Gan & Lee Pharmaceuticals (603087.SH) has signed an exclusive license agreement with Italy's Menarini Group worth up to €726 million, excluding royalties, to develop and commercialize the obesity drug bofanglutida across 39 European markets.
Gan & Lee secures €62 million upfront with milestones reaching €664 million
Under the deal, Gan & Lee will receive an initial payment of €62 million, milestone payments totaling up to €664 million, and double-digit royalties on net sales within the licensed territory. Menarini will handle regulatory filings and commercialization in the 27 European Union member states, the United Kingdom, Switzerland, Norway, Iceland, Liechtenstein and Balkan countries.