Hansoh Pharma licenses drug to Regeneron in $2bn deal

Hansoh Pharmaceutical Group (HKEX: 3692) announced today that it has entered into a license agreement with Regeneron Pharmaceuticals, Inc. Under the agreement, Hansoh will grant Regeneron an exclusive worldwide license (excluding the Chinese Mainland, Hong Kong, and Macau) to develop, manufacture, and commercialize HS-20094, an investigational dual GLP-1/GIP receptor agonist currently in Phase III clinical trials in China. The Licensors will receive an upfront payment of US$80 million. Hansoh is eligible to receive up to US$1.93 billion in milestone payments, along with double-digit royalties on potential future product sales. The Board believes the agreement is in the best interest of the Company and its shareholders.