Hengrui Pharma and GSK Enter Agreement to Develop up to 12 Medicines

New York – July 27, 2025 – Cooley advised Hengrui Pharma, a global pharmaceutical company, on its up to $12.5 billion agreement with GSK to develop up to 12 medicines to complement GSKs extensive respiratory, immunology and inflammation (RI&I) and oncology pipeline.

GSK will pay $500 million in upfront fees to Hengrui Pharma, with the potential for up to $12 billion in additional milestone payments if all programs are optioned and all milestones are achieved. Hengrui Pharma will also be eligible to receive tiered royalties on global product net sales, excluding mainland China, the Hong Kong Special Administrative Region, the Macau Special Administrative Region and the Taiwan region.

Lawyers Alan Tamarelli, Frances Stocks Allen, Jiqiang Lin, Freddy Yip, Shawn Yu, David Burns, Julia Brinton, Aaron Pomeroy, Rick Jantz and Andrew Epstein led the Cooley team advising Hengrui Pharma.

Cooley previously advised Hengrui Pharma on its exclusive license agreement with Merck KGaA, Darmstadt, Germany, in April 2025; its exclusive license agreement with Merck for HRS-5346 in March 2025; its global license agreement (excluding Greater China) with Hercules CM Newco in May 2024; its exclusive worldwide (excluding mainland China) license agreement with Merck KGaA in October 2023; and its global license agreement (excluding Greater China and Korea) with Elevar Therapeutics in November 2023.

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