Merck & Co. paid $200 million upfront to license Jiangsu Hengrui's Lp(a)-blocking heart drug HRS-5346 (Phase 2), with up to $1.77 billion in milestones and royalties outside greater China.1
Jiangsu Hengrui overtook AstraZeneca as the world's top clinical trial sponsor in 2024, with over 400 ongoing trials including 20+ international studies; R&D portfolio grew 19% in 2024.2
GSK signed a collaboration worth up to $12 billion with Jiangsu Hengrui for up to 12 programs, including a PDE3/4 inhibitor for COPD.2
Elevar Therapeutics' NDA resubmission for rivoceranib (Hengrui's apatinib) plus camrelizumab accepted by FDA for first-line unresectable HCC, PDUFA date July 23, 2026.3
Jiangsu Hengrui's GLP-1/GIP dual agonist HRS-9531 licensed to Kailera Therapeutics, highlighted as a drug to watch in China for 2026.7
Additional 2025 deals include licensing with Braveheart Bio for heart drug HRS-1893 (up to $1.01 billion) and Glenmark for a cancer drug.4
Sources:
1. https://www.biopharmadive.com/news/merck-jiangsu-hengrui-lpa-heart-drug-deal/743428/
2. https://www.pharmavoice.com/news/chinese-china-drug-clinical-trial-pharma-jiangsu-hengrui/804665/
3. https://www.globenewswire.com/news-release/2026/01/30/3229623/0/en/Elevar-Therapeutics-Announces-FDA-Acceptance-of-New-Drug-Application-Resubmission-for-Rivoceranib-in-Combination-with-Camrelizumab-as-a-First-line-Systemic-Treatment-for-Unresectab.html
4. https://www.scmp.com/topics/jiangsu-hengrui-pharmaceuticals
7. https://www.bioworld.com/articles/728230-six-drugs-to-watch-in-china-for-2026