Novo Nordisk licenses Hengrui's once-weekly oral GLP-1/GIP pill HRS-1596 in deal worth up to $2.6 billion

Novo Nordisk has licensed an experimental once-weekly obesity and diabetes pill from China's Hengrui Pharma, paying $300 million upfront in a deal worth up to $2.6 billion if development, regulatory and commercial milestones are met ^[1][3]. The drug, HRS-1596, has not yet entered human testing ^[3].

Under the agreement announced on 29 September 2026, Novo gets exclusive rights to develop, manufacture and commercialize HRS-1596 everywhere except mainland China, Hong Kong, Macao and Taiwan ^[3]. Hengrui is also eligible for royalties based on net sales in the licensed territory ^[1][3]. The deal still needs clearance under the U.S. Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions, and both companies expect it to close in the fourth quarter of 2026 ^[1][3].

What the drug is

HRS-1596 is described as a "phase 1-ready" dual agonist that acts on both the GLP-1 receptor and the GIP receptor — the same two targets hit by tirzepatide (sold as Mounjaro and Zepbound) ^[3]. What sets it apart, according to the companies, is the delivery: it is designed with the potential for once-weekly oral dosing ^[1][3].

The companies say the drug is built to reduce weight and improve blood sugar control through several mechanisms, including appetite suppression, stimulating insulin secretion and improving insulin sensitivity, which they say supports possible use in obesity, type 2 diabetes and other metabolic diseases ^[1][3]. A weekly pill "would substantially reduce dosing frequency and improve convenience compared with current offerings," the companies said ^[3].

Hengrui has received approval in China to begin phase 1 clinical trials of HRS-1596 in weight management and type 2 diabetes ^[1][3]. No trial results in people have been reported, because those studies have not begun.

"Novo has pioneered the field of oral peptides and as leaders, we continuously look to advance our broad and deep oral pipeline across obesity, diabetes and other cardiometabolic diseases," said Martin Holst Lange, Novo's executive vice president of research and development and chief scientific officer ^[3]. Frank Jiang, Hengrui's executive vice president and chief strategy officer, said the drug "reflects this commitment in metabolic diseases, with the potential to offer the convenience of once-weekly oral administration" ^[1][3].

Bloomberg framed the transaction as Novo adding an early-stage drug to its pipeline "as it seeks to rebuild investor confidence in its future beyond blockbusters Ozempic and Wegovy" — both of which are semaglutide ^[2]. It follows another Novo deal reported days earlier, a drug-delivery agreement with Nanexa worth up to $1.3 billion for long-acting medicines ^[2].

Why it matters for patients

Nothing about this deal changes what is available at the pharmacy today. HRS-1596 has not been tested in humans, has no approval anywhere, and would need to clear phase 1 safety testing followed by larger mid- and late-stage trials before any regulator could review it ^[1][3]. Drugs at this stage frequently fail, and the timeline to a possible approval has not been disclosed.

What the deal signals is where the competition is heading. Injections dominate the GLP-1 market now, and the main appeal of HRS-1596 is not a new mechanism — GLP-1/GIP dual agonism already exists in approved medicine — but the possibility of taking a pill once a week instead of dosing more often ^[1][3]. Fewer doses and no needles could matter for people who struggle with injections, storage or adherence, though whether a weekly pill can match injectable weight loss and blood sugar results is unknown and will not be answered until trials are run.

The pricing question is also unresolved. Neither company said anything about what such a drug might cost or how it would be covered, and no such details have been disclosed.

What happens next

The agreement is expected to close in the fourth quarter of 2026, once U.S. antitrust clearance and other closing conditions are satisfied ^[1][3]. After that, Novo would control development outside greater China, while Hengrui retains rights in mainland China, Hong Kong, Macao and Taiwan ^[3]. Hengrui already has Chinese clearance to start phase 1 studies in weight management and type 2 diabetes, but a start date for those trials has not been announced ^[1][3].