Novo Nordisk licenses potential once-weekly obesity pill from Hengrui in $2.6B 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.