Novo licenses Hengrui's once-weekly oral GLP-1/GIP candidate for $300 million upfront

Novo signed a license agreement with China's Hengrui Pharma for HRS-1596, a phase 1-ready GLP-1 and GIP receptor dual agonist that may be dosed once weekly by mouth. Novo pays a $300 million upfront and up to $2.6 billion in total milestone and sales-linked value, with Hengrui entitled to royalties in Novo's territory. Closing is expected in Q4 2026, subject to US antitrust clearance. The release gave no estimate of the 2026 financial impact.

• $300 million upfront payment
• Up to $2.6 billion in total potential value including milestones
• Phase 1-ready once-weekly oral GLP-1/GIP dual agonist for obesity and type 2 diabetes
• Rights exclude mainland China, Hong Kong, Macao and Taiwan
• Closing expected in Q4 2026, subject to US Hart-Scott-Rodino clearance