GSK Strengthens COPD Offering via $12 Billion Multi-Program Deal with China’s Hengrui Pharma

GSK has signed a deal worth up to $12 billion with China's Hengrui Pharma to access rights to up to 12 medicines, including therapies for respiratory, immunology, and oncology indications234.

An upfront payment of $500 million will be made by GSK, with additional milestone and option payments that could total $12 billion if all 12 programs are successfully developed1234.

The flagship asset in the agreement is HRS-9821, a potential best-in-class PDE3/4 inhibitor currently in Phase I trials for chronic obstructive pulmonary disease (COPD) as an add-on maintenance therapy1234.

HRS-9821 has shown potent dual inhibition of PDE3 and PDE4, resulting in bronchodilatory and anti-inflammatory effects in early clinical research2.

The deal enables GSK to strengthen its COPD pipeline, complementing its recently approved IL-5 antibody Nucala for COPD, and aims to reach patients across a broader disease spectrum, including those not adequately served by current therapies1234.

Beyond HRS-9821, the pact covers 11 additional pipeline assets. Hengrui will develop these through Phase I trials, after which GSK may exclusively license and commercialize them internationally, excluding greater China24.

Hengrui is also eligible for tiered royalties on global net sales for any successfully commercialized product, except in mainland China, Hong Kong, Macau, and Taiwan34.

Sources:

1. https://www.statnews.com/2025/07/28/gsk-jiangsu-hengrui-licensing-deal-copd-china/

2. https://www.fiercebiotech.com/biotech/gsk-strengthens-copd-offering-12b-biobucks-deal-chinas-hengrui-pharma

3. https://www.biospace.com/business/gsk-bets-up-to-12b-for-multi-program-cancer-pact-with-hengrui

4. https://www.gsk.com/en-gb/media/press-releases/gsk-and-hengrui-pharma-enter-agreements/