Hanmi Out-licenses Diabetes Drug to Janssen for $960 Million

Hanmi Pharma of South Korea announced another blockbuster out-licensing deal for one of its clinical stage assets. This time, Janssen agreed to a $960 million deal in exchange for exclusive worldwide rights (except Korea and China) to a novel biologic GLP-1/Glucagon dual receptor agonist aimed at diabetes and obesity. The molecule, HM12525A, is expected to begin Phase II trials next year. Last week, Sanofi agreed to pay as much as $4.2 billion for three Hanmi long-acting diabetes drugs. Previously, the company out-licensed a novel lung cancer therapeutic to Boehringer Ingelheim for $730 million and sold the rights for an autoimmune drug to Lilly for $690 million. More details....

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Hanmi also out-licensed a novel lung cancer therapeutic to Boehringer Ingelheim for $730 million and sold the rights for an autoimmune drug to Lilly (NYSE: LLY) for $690 million.