Novo Nordisk Licenses Hengrui's Once-Weekly Oral GLP-1/GIP Dual Agonist HRS-1596 in Deal Worth Up to $2.6 Billion

Hengrui Pharma has granted Novo Nordisk exclusive global rights, outside the Chinese mainland, Hong Kong, Macao, and Taiwan, to develop, manufacture, and commercialize HRS-1596, a phase 1-ready glucagon-like peptide-1 receptor (GLP-1R) and gastric inhibitory polypeptide receptor (GIPR) dual agonist with potential for once-weekly oral dosing, the companies announced on September 29, 2026.¹ Hengrui will receive a $300 million upfront payment and is eligible for development, regulatory, and commercial milestones that bring the agreement's potential value to up to $2.6 billion, plus royalties on net sales in the licensed territory.¹

Hengrui has received approval in China to begin phase 1 trials of HRS-1596 for weight management and type 2 diabetes.¹ No clinical data have been reported.

How does a GLP-1/GIP dual agonist work?

According to Hengrui, HRS-1596 is designed to reduce weight and improve glycemic control through multiple mechanisms, including appetite suppression, stimulation of insulin secretion, and improved insulin sensitivity, supporting its potential use in obesity, type 2 diabetes, and other metabolic diseases.¹

Those mechanisms reflect the distinct roles of the two incretin hormones. Both GIP and GLP-1 act in concert with glucose to enhance insulin gene transcription, and both activate their receptors in distinct neurons within the central nervous system, including the hypothalamus, to increase satiety, according to a 2024 review in Frontiers in Endocrinology.² GIP has also been found to boost glucose uptake by improving insulin sensitivity in adipocytes.² The review notes that the unimolecular dual agonist tirzepatide elicited a cyclic AMP response in a human pancreatic β-cell line that was significantly higher than that observed with either GLP-1 or GIP alone.²

Neither company has disclosed HRS-1596's structure or the formulation approach that would enable once-weekly oral dosing.

Why does once-weekly oral dosing matter?

Oral GLP-1 therapy for obesity is recent. In December 2025, the FDA approved Novo's Wegovy pill, oral semaglutide, as the first oral GLP-1 medicine for weight loss in adults in the US.³ In the Phase 3 OASIS 4 trial, once-daily oral semaglutide 25 mg produced average weight loss of about 17% compared with about 3% with placebo among participants who remained on treatment.³

According to the companies, once-weekly oral administration of HRS-1596 would substantially reduce dosing frequency and improve convenience compared with current offerings.¹ "HRS-1596 reflects this commitment in metabolic diseases, with the potential to offer the convenience of once-weekly oral administration," said Frank Jiang, MD, PhD, executive vice president and chief strategy officer of Hengrui Pharma. "This collaboration brings together Hengrui's innovation strengths and Novo's global leadership in GLP-1 therapies and obesity care."¹

For Novo, the candidate adds to an oral pipeline that spans obesity, diabetes, and other cardiometabolic diseases. "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 through our strong internal capabilities and leading external innovation," said Martin Holst Lange, MD, PhD, executive vice president, research and development, and chief scientific officer at Novo.¹

What happens next?

The agreement is subject to clearance under the US Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions, and the transaction is expected to close in the fourth quarter of 2026.¹ Because HRS-1596 has not yet entered the clinic, the companies describe once-weekly oral dosing as a potential rather than demonstrated property.¹ Novo said it plans to explore the candidate's "potential to raise the bar for convenience in the field."¹

References

1. Hengrui Pharma. Hengrui Pharma and Novo Enter Exclusive License Agreement for Once-Weekly Oral GLP-1/GIP Dual Receptor Agonist HRS-1596. Press release. Published September 29, 2026. Accessed September 29, 2026.
2. Liu QK. Mechanisms of action and therapeutic applications of GLP-1 and dual GIP/GLP-1 receptor agonists. Front Endocrinol (Lausanne). 2024;15:1431292.
3. Novo Nordisk. FDA approves Novo Nordisk's Wegovy pill, the first and only oral GLP-1 for weight loss in adults. Press release. Published December 22, 2025. Accessed September 29, 2026.