Hansoh Pharma Inks $2 Billion Global Licensing Deal for GLP-1/GIP Dual Agonist HS-20094 with Regeneron

　　【Pharmaceutical Network Enterprise NewsFrom early 2025 to date, China's innovative drug sector is witnessing a surge in overseas transaction activity. According to incomplete statistics, the total transaction value has reached 45.5 billion US dollars, with upfront payments amounting to 2.2 billion US dollars. In May alone, at least six Chinese innovative drug companies publicly announced BD transaction deals, most of which were cross-border collaborations between Chinese and foreign pharmaceutical enterprises.
 

Early June has just begun, and there is already good news about China's innovative drugs going global. On June 2, Hansoh Pharma announced that it had entered into a licensing agreement with Regeneron, granting Regeneron the exclusive global license (excluding mainland China, Hong Kong, and Macao) to develop, manufacture, and commercialize HS-20094. According to the agreement, Hansoh Pharma will receive an upfront payment of $80 million and is eligible to receive milestone payments of up to $1.93 billion based on the product’s development, regulatory approval, and commercialization progress, as well as double-digit percentage royalties on future potential product sales.
 

It is reported that HS-20094, a GLP-1/GIP dual receptor agonist under research, has successfully completed multiple Phase 2 clinical trials with positive efficacy and safety data, and is currently undergoing Phase 3 clinical trials in China.
 

In fact, the successive good news of Hansoh Pharma's new drug exports is mainly due to its continuous efforts in product innovation in recent years. As early as 2002, Hansoh Pharma awakened its innovative gene and initiated the research and development of Class 1.1 innovative drugs. In 2014, its self-developed first Class 1.1 new drug, MaiLingDa® (Morniflaxin Sodium Chloride Injection), was launched. Since then, the company’s innovative drug pipeline has continuously yielded results, with seven products successfully launched, covering multiple fields such as oncology, autoimmune diseases, chronic diseases, and anti-infectives.
 

As innovative achievements continue to increase, Hansoh Pharma's outbound licensing pipeline transactions have become more active. In October and December 2023, Hansoh Pharma entered into license agreements with GSK respectively. According to these agreements, GSK was granted an exclusive global license (excluding mainland China, Hong Kong, Macao, and Taiwan regions) for the development, manufacturing, and commercialization of HS-20089 and HS-20093. Both HS-20089 and HS-20093 are antibody-drug conjugates (ADCs), currently undergoing clinical studies at various stages in China.
 

By the end of 2024, Hansoh Pharma has reached a collaboration with Merck regarding the development and commercialization of the GLP-1 receptor agonist HS-10535. Hansoh Pharma has granted Merck the exclusive global license for the development, manufacturing, and commercialization of HS-10535 and will receive an upfront payment of $112 million and potential milestone payments of up to $1.9 billion from Merck. The upfront payment of $112 million is expected to be recorded in 2025.
 

Notably, as innovative drugs are frequently going global, the revenue from their sales of innovative drugs and collaborative products continues to grow. On March 21, Hansoh Pharma released its 2024 annual performance report. The revenue from its innovative drug business reached 9.477 billion yuan, a significant year-on-year increase of 40%, with innovative drugs accounting for 77.3% of the company’s total revenue.
 

Industry analysts believe that Hansoh Pharma has currently formed a positive cycle of "R&D - Licensing - Reinforcing R&D." In the future, with the continuous acceleration of innovation and progress in subsequent licensed pipelines, its performance is expected to see significant growth.
 

Disclaimer: In any case, the information or opinions expressed in this article do not constitute investment advice for any person.