Novo Nordisk grabs global rights to Hengrui Pharma’s oral GLP-1 GIP drug in $2.6 billion deal

By Vivian Lin · September 30, 2026, 10:52 PM · 3 mins read

Novo Nordisk has signed a licensing deal worth up to $2.6 billion for Hengrui Pharma’s once-weekly oral GLP-1 GIP agonist HRS-1596. The move shakes up the metabolic disease market.

Novo Nordisk has clinched exclusive global rights to Hengrui Pharma’s HRS-1596, a dual GLP-1/GIP receptor agonist. The deal covers all markets except mainland China, Hong Kong SAR, Macao SAR, and Taiwan Region. HRS-1596 is set for phase I trials and is designed for once-weekly oral dosing. The agreement is worth up to $2.6 billion. Hengrui Pharma gets $300 million upfront. More milestone payments could follow, tied to development, regulatory, and commercial goals. These details come from a Reuters financial review.

HRS-1596 targets both the glucagon-like peptide-1 receptor and the gastric inhibitory polypeptide receptor. The goal is to cut weight and improve blood sugar control. It works by suppressing appetite, boosting insulin release, and making the body more sensitive to insulin. The once-weekly oral pill could mean fewer doses than current metabolic drugs. Both companies are betting this convenience will drive use in obesity and type 2 diabetes. Novo Nordisk told Reuters that HRS-1596 could "substantially reduce dosing frequency and improve convenience compared with current offerings."

Chinese regulators have already granted approval for Hengrui Pharma to begin phase I clinical trials of HRS-1596, positioning the drug as phase I-ready for weight management and type 2 diabetes.

Reuters

Novo Nordisk will handle development, manufacturing, and sales of HRS-1596 worldwide, except in the Chinese mainland, Hong Kong SAR, Macao SAR, and Taiwan Region. Hengrui Pharma keeps rights in those areas. The company will also get royalties from net sales in Novo Nordisk’s licensed territories, on top of the upfront and milestone payments.

Frank Jiang, MD, PhD, Executive Vice President and Chief Strategy Officer at Hengrui Pharma, said, “We are committed to continuous innovation, bringing better treatments to patients. HRS-1596 reflects this commitment in metabolic diseases, with the potential to offer the convenience of once-weekly oral administration.” Martin Holst Lange, MD, PhD, Executive Vice President, Research & Development and Chief Scientific Officer at Novo Nordisk, said, “Hengrui Pharma has a proven track record of discovering and advancing innovative therapies with the patients in the center, and 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.”

Hengrui Pharma already has approval in China to start phase I trials of HRS-1596 for weight management and type 2 diabetes. The license deal still needs clearance under the U.S. Hart-Scott-Rodino Antitrust Improvements Act and other standard closing conditions. The companies expect the transaction to close in the fourth quarter of 2026, according to Anadolu Agency reporting.

Hengrui Pharma is currently the largest pharmaceutical company in China by market capitalization, and this licensing deal grants Novo Nordisk the rights to develop, manufacture, and commercialize HRS-1596 outside the specified Asian markets.

Reuters

This deal shows Novo Nordisk’s push to grow its oral peptide pipeline and keep its lead in metabolic disease. Hengrui Pharma is using its innovation to reach new markets. The focus on once-weekly oral dosing highlights the race to make obesity and diabetes treatments easier for patients. All eyes are now on HRS-1596. The stakes are high.

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Vivian Lin

Vivian Lin is Biotech Markets & Transactions Editor at GenoMethods, covering licensing agreements, M&A, biotech financing, company pipelines, strategic partnerships and cross-border transactions. Her reporting connects deal structure and company strategy with the scientific and clinical evidence underlying each biotechnology asset.