On September 30, HENGRUI PHARMA rose 3.33% in regular trading, trading at HKD 47.14/share, with turnover of HKD 61.00 million, extending gains from the previous session as the market continued to digest the landmark licensing agreement with Novo Nordisk.

On September 29, HENGRUI PHARMA announced it had signed a global licensing agreement granting Novo Nordisk exclusive rights to develop, manufacture, and commercialize HRS-1596 — a self-developed oral GLP-1/GIP dual receptor agonist for weight management and type 2 diabetes — in all territories outside Greater China. The deal carries a potential total value of up to $2.6 billion, comprising a $300 million upfront payment and up to $2.3 billion in development, regulatory, and commercial milestone payments. HENGRUI PHARMA will also receive tiered royalties on net sales in licensed regions. HRS-1596, designed as a potential once-weekly oral treatment, has received Phase I clinical trial approval in China. The transaction is expected to close in Q4.

The deal comes amid broader strength in innovative pharma names and follows weeks of institutional activity, including recent accumulations by UBS, BlackRock, and Capital Group in HENGRUI PHARMA H-shares. Within the Pharmaceuticals sector, ASYMCHEM gained 5.88%, CSPC PHARMA rose 4.38%, and HANSOH PHARMA added 2.09%.

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