Novo Nordisk has signed a licensing agreement with Chinese pharmaceutical company Hengrui Pharma for HRS-1596, an early-stage, once-weekly oral obesity treatment. The deal could be worth up to $2.6 billion. Novo will pay $300 million upfront.
HRS-1596 is a peptide-based GLP-1R/GIPR dual agonist ready to enter Phase 1 clinical trials. The companies plan to develop it for obesity, type 2 diabetes and other metabolic diseases.
The partnership gives Novo a potential long-term addition to its obesity and metabolic disease portfolio. Analysts say a once-weekly oral therapy could stand out in a competitive market.