Novo Nordisk licenses oral GLP-1/GIP drug candidate

• Novo Nordisk agreed to license Hengrui Pharma’s phase 1-ready oral GLP-1/GIP dual receptor agonist HRS-1596.
• The agreement could reach up to $2.6 billion, including a $300 million upfront payment.
• Novo will receive global development and commercialization rights outside mainland China, Hong Kong, Macao, and Taiwan.

Novo Nordisk (NYSE:NVO) agreed to license Hengrui Pharma’s phase 1-ready oral candidate HRS-1596 in a transaction valued at up to $2.6 billion.

Under the agreement, Novo Nordisk will receive exclusive rights to develop, manufacture, and commercialize the GLP-1/GIP dual receptor agonist worldwide, excluding mainland China, Hong Kong, Macao, and Taiwan.

The agreement includes a $300 million upfront payment to Hengrui Pharma, along with milestone-based payments and royalties tied to net sales in the licensed territories.

Hengrui Pharma has received approval in China to begin Phase 1 trials of HRS-1596 for weight management and type 2 diabetes, with once-weekly oral dosing among the potential applications being explored.

Novo Nordisk said the transaction is expected to close in the fourth quarter of 2026, subject to U.S. antitrust clearance and other customary closing conditions.