HK Stock Market Move | Jiangsu Hengrui Pharmaceuticals (01276) rose nearly 5% in early trading; HRS-1596 licensed to Novo Nordisk, with a potential deal value of up to US$2.6 billion.

Jiangsu Hengrui Pharmaceuticals (01276) rose nearly 5% in early trading. As of press time, it was up 4.87% at HK$47.82, with a turnover of HK$118 million. On the news front, on September 29, Jiangsu Hengrui Pharmaceuticals officially announced an exclusive licensing collaboration with Novo Nordisk. The two parties reached a global licensing agreement for the self-developed innovative drug HRS-1596. HRS-1596 is a glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) dual receptor agonist that is already ready for Phase I clinical trials and is expected to achieve once-weekly oral administration. Under the terms of the agreement, Novo will obtain exclusive rights to develop, manufacture, and commercialize HRS-1596 worldwide outside China. The potential total transaction value of the deal could reach up to US$2.6 billion, including a US$300 million upfront payment and payments upon the achievement of relevant development, regulatory, and commercialization milestones. In addition, Jiangsu Hengrui Pharmaceuticals will be eligible to receive corresponding sales royalties based on the net sales of HRS-1596 in the licensed territories.