Novo Nordisk has agreed to pay Hengrui Pharma $300 million upfront for rights to HRS-1596, an experimental obesity and diabetes drug designed for once-weekly oral dosing. The agreement could be worth up to $2.6 billion if development, regulatory and commercial milestones are met.
Under the deal, Novo will receive exclusive rights to develop, manufacture and sell HRS-1596 worldwide except in mainland China, Hong Kong, Macao and Taiwan. Hengrui will also be eligible for royalties on net sales in Novo’s licensed territories. The agreement is subject to U.S. antitrust clearance and other closing conditions, with completion expected in the fourth quarter of 2026.
HRS-1596 is a dual agonist targeting the GLP-1 and GIP receptors. Hengrui designed the candidate to affect appetite, insulin secretion and insulin sensitivity. It is ready to enter Phase 1 testing, and Hengrui has received approval in China to begin trials for weight management and type 2 diabetes.
The proposed once-weekly tablet would give Novo another oral candidate for its pipeline of treatments for obesity, diabetes and other cardiometabolic diseases. Its dosing schedule remains a development goal for the investigational medicine, not an established clinical result.
Martin Holst Lange, Novo’s chief scientific officer, said the company plans to explore HRS-1596’s potential as a less frequently administered oral treatment. Hengrui will retain rights in the excluded Chinese markets while Novo takes responsibility for development and commercialization in the rest of the world.
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