Hengrui Pharma (Jiangsu Hengrui Pharmaceuticals)

Money Moves

As of October 2026: Licensor of HRS-1596; China's largest drugmaker by market value

Novo Nordisk will pay China's Hengrui Pharma $300 million upfront to license an experimental weight-loss pill designed for once-weekly use. The $2.6 billion total is a ceiling tied to development and sales milestones; the upfront is the only cash on signing, and it waits on US antitrust clearance.

Updated Oct 1