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Full analysis, sources & comparables →Hengrui Pharma has out-licensed its HER2 ADC trastuzumab rezetecan to Glenmark's specialty arm for emerging markets, in a deal worth up to $1.11 billion.…
Glenmark Pharmaceuticals' specialty subsidiary has struck a deal worth up to $1.11 billion with China's Hengrui Pharma for rights to HER2-targeted ADC…
Fierce Pharma Asia—Celltrion's Lilly plant buy; Rexulti's PTSD snub; Glenmark, Hengrui's ADC deal. Weekly roundup covering Glenmark-Hengrui HER2 ADC licensing…
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Glenmark's specialty subsidiary (Glenmark Specialty S.A.) obtained exclusive rights to develop and commercialize Hengrui's HER2-ADC trastuzumab rezetecan (SHR-A1811) across ~80+ emerging markets (ex-China, US, Canada, Europe, Japan, Russia and CIS). $18M upfront and up to $1.093B in milestones plus tiered royalties. The asset was the first China-developed ADC approved for HER2-mutated NSCLC (May 2025 NMPA approval) and added a second China indication, HER2-positive breast cancer, around March 2026 on the back of the positive Phase 3 HORIZON-Breast01 readout (median PFS 30.6 vs 8.3 months; HR 0.22). It positions as an emerging-markets rival to AstraZeneca/Daiichi Sankyo's Enhertu.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Glenmark Specialty S.A. / Jiangsu Hengrui Pharmaceuticals Co. Ltd. (this deal) | 2025 | $1.1B | — |
| AstraZeneca PLC / Daiichi Sankyo Company, Limited | 2019 | $6.9B | 100 |
| Novartis AG / Endocyte, Inc. | 2018 | $2.1B | 96 |
| Astellas Pharma Inc. / Seagen Inc. | 2009 | $4.5B | 95 |
| Bristol-Myers Squibb Company / Medarex Inc. | 2009 | $2.4B | 92 |
| Servier / Agios Pharmaceuticals (oncology) | 2020 | $2.0B | 91 |
| Servier Pharmaceuticals LLC / Agios Pharmaceuticals Inc. | 2020 | $2.0B | 91 |
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