Context: Founded in 1970, Chinese drug manufacturer Hengrui Pharma’s therapeutic areas of focus include oncology, metabolic and cardiovascular diseases, immunological and respiratory diseases, and neuroscience. Its medication HRS-1596 is designed to reduce weight and improve glycemic control through multiple mechanisms, including appetite suppression, stimulation of insulin secretion, and improved insulin sensitivity, supporting its potential use in obesity, type 2 diabetes, and other metabolic diseases. The drug, which has received approval in China to initiate phase 1 clinical trials, has potential to be developed for once-weekly oral administration, which would substantially reduce dosing frequency and improve convenience compared with current offerings.
What’s new: Novo Nordisk has signed a licensing agreement with Hengrui Pharma for HRS-1596, a phase 1-ready glucagon-like peptide-1 receptor (GLP-1R) and gastric inhibitory polypeptide receptor (GIPR) dual agonist, with potential for once-weekly oral dosing (September 29, 2026 Novo Nordisk press release).
Direct impact: The agreement is not yet final as it is subject to antitrust approval, but is expected to close in Q4 2026. If approved, Novo Nordisk must then make a $300 million upfront payment, and it will then obtain exclusive rights to develop, manufacture, and commercialize HRS-1596 globally, excluding mainland China, Hong Kong, Macao, and Taiwan. The potential total value of the agreement is up to $2.6 billion, and Hengrui Pharma is eligible to receive royalties based on net sales of HRS-1596 within the licensed territory.
Wider ramifications: If greenlit, this deal will be a big win for Novo, which is embroiled in several patent disputes related to its GLP-1 pipeline. Last week, Mylan (a Viatris unit) filed a declaratory-judgment complaint over one of Novo’s Wegovy patents in the United States District Court for the District of Delaware (September 25, 2025 ip fray article). The company itself has also asserted several of its patents from this portfolio, including against Hims & Hers Health (February 10, 2026 ip fray article, which settled a month later), Canadian pharma giant Apotex (February 23, 2026 ip fray article), and Viatris itself (August 12, 2026 ip fray article). While in the EU and the U.S., Novo has been able to fend off competition in the semaglutide market after a key patent expired (March 26, 2026 ip fray article). India is a key market for Novo Nordisk, as underlined in an ip fray interview with the company’s Associate General Counsel Raquel Frisardi earlier this year (January 28, 2026 ip fray article).
In a statement today, Martin Holst, Novo’s executive vice president, Research & Development and chief scientific officer, said Hengrui Pharma has a “proven track record” of discovering and advancing innovative therapies with the patients in the center. He added:
“We are excited to add HRS-1596 to our growing pipeline and to explore its potential to raise the bar for convenience in the field.”
Also in a statement, Hengrui Pharma’s Executive Vice President and Chief Strategy Officer, Frank Jiang, MD, Ph.D., said his company is “committed” to continuous innovation and that HRS-1596 reflects this commitment in metabolic diseases, with the potential to offer the convenience of once-weekly oral administration.
He added:
“Together, we aim to advance this innovative therapy for patients worldwide.”