Dietary supplements: Novo buys license for weight loss pill from Hengrui
The Danish pharmaceutical company is pinning great hopes on an experimental weight loss drug from China. In a billion-dollar deal, the company has secured the global license.
Copenhagen - Novo Nordisk has acquired the license to an experimental weight-loss pill from Jiangsu Hengrui Pharmaceuticals for up to $2.6 billion. The experimental drug, in its early development stages, is seen by the company as a potential future hope beyond their best-selling medications, Ozempic and Wegovy. Novo initially pays $300 million for the rights to develop, manufacture, and market the drug globally, excluding mainland China, Hong Kong, Macau, and Taiwan.
Hengrui can also earn revenue-based license fees. The drug HRS-1596 targets the GLP-1 and GIP receptors and is intended to be taken once a week. In China, it has been approved for clinical Phase 1 trials to treat obesity and diabetes. Currently available weight-loss pills, including Novo's products, require daily intake. Novo's research and development head, Martin Holst Lange, stated that the drug could "set a new standard for convenience in this area."
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