The Economic Information Daily reported on the 29th that Hengrui Pharma (01276) (SSE: 600276) announced at noon that the company has reached an agreement with Novo Nordisk A/S ("Novo") to license Hengrui's potentially once-weekly oral glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) dual receptor agonist HRS-1596 (an independently developed GLP-1/GIP dual receptor agonist, referred to as "HRS-1596") to Novo.
Hengrui Pharma's shares are currently up 2.74%, trading at RMB 45.69.
According to the announcement, Novo will obtain exclusive rights to develop, manufacture, and commercialize HRS-1596 globally outside the Greater China region. The potential total transaction value could reach up to USD 2.6 billion, including a USD 300 million upfront payment and subsequent payments upon achieving certain development, registration, and commercialization milestones. Additionally, Hengrui will be eligible to receive royalties based on net sales of HRS-1596 in the licensed territory. (jq)
Hengrui Pharma's shares are currently up 2.74%, trading at RMB 45.69.
According to the announcement, Novo will obtain exclusive rights to develop, manufacture, and commercialize HRS-1596 globally outside the Greater China region. The potential total transaction value could reach up to USD 2.6 billion, including a USD 300 million upfront payment and subsequent payments upon achieving certain development, registration, and commercialization milestones. Additionally, Hengrui will be eligible to receive royalties based on net sales of HRS-1596 in the licensed territory. (jq)
