05:24 AM EDT, 09/29/2026 (MT Newswires) -- Novo Nordisk (NOVO-B.CO) signed a licensing deal worth up to $2.6 billion for HRS-1596, an experimental weight-loss and diabetes pill being developed by Chinese drugmaker Jiangsu Hengrui Pharmaceuticals, expanding its oral peptide pipeline. The agreement gives the Danish drugmaker exclusive rights to develop, manufacture and commercialize the drug candidate globally, excluding mainland China, Hong Kong, Macao and Taiwan, the companies said Tuesday. Novo will pay Hengrui Pharma $300 million upfront, with the remaining payments tied to certain development, regulatory, and commercial milestones. The Hong Kong- and Shanghai-listed company will also be eligible to receive royalties on net sales generated from the licensed territory. HRS-1596 is a phase 1-ready, glucagon-like peptide-1 receptor and gastric inhibitory polypeptide receptor dual agonist with the potential to be a once-weekly treatment for obesity, type 2 diabetes and other metabolic conditions. The investigational drug is intended to help patients reduce weight and improve glucose control through appetite suppression, stimulation of insulin secretion and better insulin sensitivity. "Novo appears to be leaning in on oral peptides following the early success of their Wegovy pill launch and this asset adds another target to Novo's broad oral portfolio - potentially combining the efficacy of a dual incretin agonism with a more convenient dosing profile," analysts at BMO Capital Markets said. "The program is too early to meaningfully impact the near-term outlook, but once- weekly oral dosing could provide some longer term differentiation." Subject to clearance under the US Hart-Scott-Rodino Antitrust Improvements Act and satisfaction of certain other closing conditions, the deal is expected to close in the fourth quarter. Novo shares edged lower in morning trading in Copenhagen.

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