UK $76 Billion Pharmaceutical Giant GSK to Pay $12.5 Billion (Upfront $500 Million) to China $50 Billion Jiangsu Hengrui Pharmaceuticals for Global Drug Rights (Exclude China Mainland, Taiwan, Hong Kong & Macao) to Treat Chronic Obstructive Pulmonary Disease (COPD) HRS-9821 & 11 Pre-Clinical Programs
28th July | Hong Kong
UK pharmaceutical giant GSK ($76 billion market value) will pay $12.5 billion ($500 million upfront) to China Jiangsu Hengrui Pharmaceuticals ($50 billion market value) for global drug rights (exclude China Mainland, Taiwan, Hong Kong & Macao) to treat Chronic Obstructive Pulmonary Disease (COPD) HRS-9821 and 11 pre-clinical programs. Announcement (28/7/25): “GSK plc (LSE/NYSE: GSK) today announced it has entered into agreements with Hengrui Pharma (600276.SH; 01276.HK) to develop up to 12 innovative medicines, adding significant new growth opportunities to the company beyond 2031. The programmes were selected to complement GSK’s extensive Respiratory, Immunology & Inflammation (RI&I) and Oncology pipeline, and assessed for their potential best- or first-in class profiles. GSK will pay $500 million in upfront fees across the agreements. The agreements include an exclusive worldwide license (excluding mainland China, Hong Kong, Macau and Taiwan) for a potential best-in-class, PDE3/4 inhibitor (HRS-9821) in clinical development for the treatment of chronic obstructive pulmonary disease (COPD) as an add-on maintenance treatment, irrespective of background therapy. The addition of HRS-9821 supports GSK’s ambition to treat patients across the widest spectrum of COPD by including those who face continued dyspnoea (shortness of breath) or who are unlikely to receive inhaled corticosteroids or biologics, based on their disease profile. HRS-9821 has demonstrated potent PDE3 and PDE4 inhibition, leading to increased bronchodilation and anti-inflammatory effects in early clinical and preclinical studies. In addition, HRS-9821 provides the opportunity for a convenient dry-powder inhaler (DPI) formulation that strategically fits GSK’s established inhaled portfolio. The agreements also include a pioneering scaled collaboration to generate up to 11 programmes in addition to HRS-9821, each with its own financial structure. Hengrui Pharma will lead the development of these programmes up to completion of phase I trials, including patients outside of China. GSK will have the exclusive option to further develop and commercialise each programme worldwide (excluding mainland China, Hong Kong, Macau and Taiwan), at the end of phase I or earlier at GSK’s election, as well as certain programme substitution rights. … … GSK will pay $500 million in upfront fees across the agreements including for the license of the PDE3/4 programme. The potential total value of future success-based development, regulatory and commercial milestone payments to Hengrui Pharma is approximately $12 billion if all programmes are optioned and all milestones are achieved. In addition, Hengrui Pharma will be eligible to receive tiered royalties on global product net sales (excluding mainland China, Hong Kong, Macau and Taiwan). GSK – GSK is a global biopharma company with a purpose to unite science, technology, and talent to get ahead of disease together. Jiangsu Hengrui Pharmaceuticals – Hengrui Pharma is an innovative, global pharmaceutical company dedicated to the research, development and commercialisation of high-quality medicines to address unmet clinical needs. With a global R&D team that includes 14 R&D centres and more than 5,500 professionals, Hengrui Pharma’s therapeutic areas of focus include oncology, metabolic and cardiovascular diseases, immunological and respiratory diseases, and neuroscience. To date, Hengrui has commercialised 23 new molecular entity drugs and 4 other innovative drugs in China. Founded in 1970 with the core principle of putting patients first, Hengrui Pharma remains committed to advancing human health by striving to conquer diseases, improve health, and extend lives through the power of science and technology.
“ UK $76 Billion Pharmaceutical Giant GSK to Pay $12.5 Billion (Upfront $500 Million) to China $50 Billion Jiangsu Hengrui Pharmaceuticals for Global Drug Rights (Exclude China Mainland, Taiwan, Hong Kong & Macao) to Treat Chronic Obstructive Pulmonary Disease (COPD) HRS-9821 & 11 Pre-Clinical Programs “
UK $76 Billion Pharmaceutical Giant GSK to Pay $12.5 Billion (Upfront $500 Million) to China $50 Billion Jiangsu Hengrui Pharmaceuticals for Global Drug Rights (Exclude China Mainland, Taiwan, Hong Kong & Macao) to Treat Chronic Obstructive Pulmonary Disease (COPD) HRS-9821 & 11 Pre-Clinical Programs
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