AstraZeneca has agreed to license experimental obesity and metabolic disease drugs from China’s CSPC Pharmaceutical Group under the AstraZeneca CSPC weight-loss deal, with total potential payments reaching $18.5 billion.
The agreement includes $1.2 billion paid upfront, with up to $17.3 billion linked to research, development, and sales milestones. CSPC confirmed that royalties based on annual net sales would be paid in addition to these amounts.
The AstraZeneca CSPC weight-loss deal builds on an existing partnership between the two companies, including collaboration in artificial intelligence. AstraZeneca said the agreement is separate from the $15 billion investment in China announced earlier this week.
AstraZeneca continues to expand its presence in the global obesity drug market, where competition is intensifying. The company has also licensed an experimental weight-loss pill from China-based EccoGene as part of its broader strategy.
AstraZeneca executive Sharon Barr said the company’s China investments support its long-term pipeline goals, including launching 20 new medicines by 2030.
For CSPC, the agreement represents its largest out-licensing transaction to date, according to Macquarie Capital analysts. CSPC may receive up to $3.5 billion tied to research and development milestones and up to $13.8 billion linked to commercial performance across eight drug programs.
Shares of CSPC fell around 12% in Hong Kong following the announcement, despite having risen 26% since early January. AstraZeneca shares in London rose slightly.
“This reflects the classic ‘buy the rumour, sell the news’ phenomenon,” said Tony Ren, head of Asia healthcare research at Macquarie Capital.
The licensed assets include SYH2082, a clinical-ready injectable candidate, along with three earlier-stage products in CSPC’s weight-management portfolio. SYH2082 is designed for once-monthly dosing, which may improve long-term treatment adherence.
The agreement grants AstraZeneca global development, manufacturing, and commercialisation rights, excluding mainland China, Hong Kong, Macau, and Taiwan.
AstraZeneca and CSPC will also work together on four additional programs using CSPC’s sustained-release delivery platforms and AI-based peptide discovery tools.
“With CSPC, we’re exploring mechanisms that allow us to offer better tolerability and more durable responses. And we know that’s important for patients,” said AstraZeneca’s Barr.
