GSK secures global rights to Hengrui’s COPD and early‑stage pipeline

GlaxoSmithKline (GSK) has struck a major licensing agreement with Jiangsu Hengrui Pharmaceuticals granting GSK exclusive global rights—outside Greater China—to Hengrui’s clinical‑stage COPD drug HRS‑9821 along with 11 additional early‑stage programmes across respiratory, immunology, inflammation and oncology. The deal involves a $500 million upfront payment, with total potential milestone and royalty payments of up to $12 billion if all development and commercial targets are met. HRS‑9821 is a PDE3/4 inhibitor being developed for chronic obstructive pulmonary disease, intended to address persistent shortness of breath and provide maintenance therapy regardless of background treatment. Hengrui will lead early development of the 11 other programmes up to completion of phase I trials, while GSK holds exclusive options to progress each asset into later stages and global markets. The announcement triggered strong market response: Hengrui shares surged in China and Hong Kong, outperforming key indices. According to analysts, this strategic alliance reaffirms GSK’s commitment to revamping its pipeline beyond 2031 and reflects rising confidence in China’s emerging role in innovative drug development.