Novo licenses Chinese obesity pill for up to $2.6B; Merck pulls antibiotic

Novo Nordisk will pay up to $2.6 billion to license an experimental weekly weight-loss pill from China's Hengrui Pharma, signaling a major bet on oral GLP-1s amid intensifying competition. Separately, Merck is withdrawing an antibiotic, though details are sparse. The deal underscores the growing importance of Chinese biotech in the obesity market and could pressure existing oral GLP-1 developers.