Novo Nordisk licenses Hengrui Pharma’s weekly oral GLP-1/GIP drug in deal worth up to $2.6 billion
NVO•NVO•NVO•NVO•Novo Nordisk signed an exclusive license deal for Hengrui Pharma’s phase 1-ready HRS-1596, a once-weekly oral GLP-1/GIP agonist, with potential payments of up to $2.6 billion. Novo will pay $300 million upfront and holds global rights excluding Greater China; closing is expected in Q4 2026, subject to conditions.
Novo Nordisk secured exclusive rights to HRS-1596 outside mainland China, Hong Kong, Macao and Taiwan, paying $300 million upfront. Milestones could bring the deal’s total value to $2.6 billion, and Hengrui is also eligible for royalties on net sales in licensed markets.
The once-weekly oral GLP-1/GIP agonist is being developed for obesity and type 2 diabetes. Hengrui has clearance in China to start phase 1 weight-management trials; the deal is expected to close in Q4 2026, subject to U.S. antitrust clearance and customary conditions.
