Novo licenses Hengrui drug candidate HRS-1596 in deal worth up to $2.6B

Novo has entered a licensing agreement with Hengrui Pharma for the drug candidate HRS-1596, with potential value up to $2.6 billion. The deal signals continued cross-border pharma licensing activity, but the specific therapeutic area and stage of development are undisclosed. This is a company-specific commercial transaction with no immediate macro-market implications.