Merck invests US$200M upfront in China’s Hengrui cardiovascular therapy

CHINA— Merck has announced a strategic partnership with Jiangsu Hengrui Pharmaceuticals, a leading Chinese pharmaceutical company, to expand its cardiovascular offerings.

This collaboration involves Merck investing Ud$200 million upfront to develop HRS-5346, an investigational oral small molecule inhibitor of lipoprotein (a), (Lp(a)), a key risk factor for cardiovascular diseases.

 The agreement also includes potential milestone payments of up to US$1.77 billion, contingent on achieving specific development, regulatory, and commercial milestones, as well as royalties on net sales if the drug is approved.

Lipoprotein (a), or Lp(a), is a type of lipoprotein that carries cholesterol, fats, and proteins in the blood.

Elevated levels of Lp(a) are associated with an increased risk of atherosclerotic cardiovascular disease, affecting approximately one in five adults globally.

This condition can lead to serious health issues, including heart attacks and strokes, making Lp(a) an attractive target for pharmaceutical companies seeking to develop new treatments.

HRS-5346 is currently in Phase II clinical trials in China, where it is being assessed for its efficacy and safety in adults with elevated Lp(a) levels.

By partnering with Merck, Hengrui aims to leverage Merck’s global expertise and scale to accelerate the development of HRS-5346.

This collaboration is expected to provide more patients with an additional option to reduce their risk of atherosclerosis.

The deal highlights a growing trend in the pharmaceutical industry, where major companies are increasingly partnering with Chinese firms to access innovative therapies.

For instance, AstraZeneca recently partnered with CSPC Pharmaceutical Group to advance YS2302018, another oral small-molecule Lp(a) disruptor, with an upfront payment of US$100 million and potential milestones of up to US$1.92 billion.

Eli Lilly is also working on its own oral candidate, muvalaplin, which has shown significant promise in reducing Lp(a) levels.

These collaborations highlight the industry’s recognition of China’s potential in pharmaceutical innovation.

The partnership between Merck and Hengrui is expected to close in the second quarter of 2025, pending antitrust clearances and other customary conditions.

This deal not only underscores Merck’s commitment to cardiovascular care but also demonstrates the growing importance of international collaborations in advancing medical research and development.

In addition to Merck’s deal with Hengrui, other major pharmaceutical companies have also been engaging in significant collaborations with Chinese partners.

Roche, for example, entered into a licensing agreement with Innovent to advance a DLL3-targeted antibody-drug conjugate, with an upfront payment of US$80 million and potential milestones of up to US$1 billion.

Similarly, GSK has partnered with DualityBio to test an investigational ADC for an undisclosed gastrointestinal cancer indication, with potential investments of up to US$1 billion.

These collaborations are indicative of a shift towards global partnerships in the pharmaceutical sector, where companies are increasingly recognizing the value of international cooperation in driving innovation and addressing unmet medical needs.

As the pharmaceutical landscape continues to evolve, such partnerships are likely to play a crucial role in bringing new treatments to patients worldwide.

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