Novo to pay Hengrui up to $2.6 billion for rights to weekly obesity pill HRS-1596

Novo announced a deal with China-based Hengrui Pharma, paying $300 million up front for rights to HRS-1596, a once‑weekly obesity pill.

The agreement could rise to $2.6 billion if the candidate meets specified development, regulatory and commercial milestones.

Under the terms, Novo will commercialize the drug outside China, Taiwan and nearby territories, positioning it as a potential competitor to Eli Lilly’s Zepbound.

The partnership is intended to calm investor concerns as Novo’s existing obesity drug Wegovy may face generic competition in the early 2030s and Zepbound has already taken market share. HRS-1596 has not yet entered human trials, so its timeline remains uncertain.