Hengrui Licenses Oral GLP-1/GIP Drug to Novo in $2.6B Deal
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Shanghai – – September 29, 2026 -- Hengrui Pharma has licensed its investigational obesity and diabetes drug HRS-1596 to Novo Nordisk in a deal worth up to 2.6 billion US dollars, including a 300 million dollar upfront payment.
Novo secures global rights excluding Greater China
Under the agreement, Novo obtains exclusive rights to develop, manufacture and commercialise HRS-1596 worldwide, excluding the Chinese mainland, Hong Kong SAR, Macao SAR and Taiwan Region. Hengrui Pharma retains eligibility for royalties on net sales of the drug within Novo's licensed territory, on top of the milestone-based payments tied to development, regulatory and commercial targets.