(Reuters) – U.S. drugmaker Merck on Wednesday signed a deal worth up to $2 billion with Hansoh Pharmaceuticals to develop and commercialize the Chinese biotech’s experimental obesity drug.
Under the deal, Merck will pay $112 million upfront and Hansoh will be eligible to receive up to $1.9 billion in milestone payments related to development and regulatory approval of its obesity drug candidate.
The drug, HS-10535, is currently undergoing lab studies.
Shares of Merck rose 1% to $101.11 in premarket trading.
(Reporting by Bhanvi Satija in Bengaluru; Editing by Krishna Chandra Eluri)
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