Sidley Represents Jiangsu Hengrui in Connection With US$2.6 Billion Licensing Agreement With Novo Nordisk

Sidley represented Jiangsu Hengrui Pharmaceuticals Co., Ltd. in connection with a license agreement with Novo Nordisk for HRS-1596, Hengrui Pharma’s phase 1-ready GLP-1/GIP dual receptor agonist designed for potential once-weekly oral dosing. Under the terms of the agreement, Novo will obtain exclusive rights to develop, manufacture, and commercialize HRS-1596 globally, excluding the Chinese mainland, the Hong Kong Special Administrative Region (SAR), the Macao SAR, and the Taiwan region. The potential total value of the agreement is up to US$2.6 billion contingent on the achievement of applicable development, regulatory, and commercial milestones. This includes a US$300 million upfront payment. In addition, Hengrui Pharma is eligible to receive royalties based on net sales of HRS-1596 within the licensed territory.

The Sidley team was led by Lila Hope, Jennifer Raab, and Jiqiang Lin (Technology and Life Sciences Transactions), and included Arif Noorani and Chen Yang (Food, Drug and Medical Device); Elizabeth Hardcastle and Taylor Andelman (Healthcare); Michael Alcan and Sophie Arkusinski (Tax); Miriam Carroll Silvestri (Antitrust and Competition); and Ash Nagdev and Stephanie Lim (Privacy and Cybersecurity).