Hengrui Pharma licenses GLP-1/GIP drug HRS-1596 to Novo Nordisk in deal worth up to $2.6 billion

Novo Nordisk gets exclusive rights outside mainland China, Hong Kong, Macau and Taiwan. Hengrui will receive $300 million upfront plus milestones and royalties; closing is expected in Q4 2026, subject to U.S. antitrust clearance and other conditions.