Novo Nordisk licenses experimental obesity pill from Chinese firm in $2.6 billion deal.

Novo Nordisk has agreed to pay China’s Jiangsu Hengrui Pharmaceuticals $300 million upfront to license HRS-1596, an experimental GLP-1/GIP drug being developed for obesity, Type 2 diabetes and other metabolic diseases. The deal could reach $2.6 billion through development, regulatory and commercial milestones, with Hengrui also eligible for sales-based royalties. Novo receives exclusive rights to develop, manufacture and commercialize the drug outside mainland China, Hong Kong, Macau and Taiwan, while Hengrui retains those markets. HRS-1596 is approved to begin Phase 1 trials in China, and Novo plans global trials; the drug may offer once-weekly oral dosing, potentially making treatment more convenient than existing options. The licensing deal adds an early-stage candidate to Novo’s pipeline as drugmakers pursue weight-loss pills and seek growth beyond established blockbuster treatments.
Analysts expect the weight-loss drug market to generate about $100 billion in annual sales within the next decade. Drugmakers see pills as a way to reach patients reluctant to use injections.
Novo’s oral Wegovy and Eli Lilly’s oral Foundayo are existing once-daily GLP-1 pills, giving context to HRS-1596’s potential once-weekly schedule.
The transaction is expected to close in the fourth quarter of 2026. It follows Novo’s earlier agreement to pay up to $1.3 billion for Nanexa’s drug-delivery technology, which could reduce injection frequency for its obesity and diabetes drugs.
Novo’s deal comes as it seeks to rebuild investor confidence in its prospects beyond Ozempic and Wegovy.
Publishers
14
Articles
137
Reach
151