KENILWORTH (NJ) (dpa-AFX) - Merck & Co., Inc. (MRK), a healthcare company, on Tuesday announced signing of an exclusive license agreement for HRS-5346 with Jiangsu Hengrui Pharmaceuticals Co., Ltd.
HRS-5346 is an investigational oral small molecule inhibitor of Lipoprotein(a) formation, that might result in atherosclerotic cardiovascular disease. HRS-5346 is currently in a Phase 2 clinical trial in China.
Hengrui will receive $200 million in upfront payment and could earn up to $1.77 billion in milestone payments, along with royalties on sales, if the drug is approved. The deal is expected to close in the second quarter of 2025.
Jiangsu Hengrui Pharma has given Merck exclusive rights to develop, manufacture, and commercialize HRS-5346 worldwide, except in Greater China.
Merck plans to record a $200 million pre-tax charge, or about $0.06 per share, in its financial results for the quarter when the transaction is completed.
In the pre-market trading, Merck is 0.48% higher at $92.75 on the New York Stock Exchange.
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