Merck and Hengrui Pharma Forge Global Partnership for Lp(a) Inhibitor

March 25, 2025 – Merck (NYSE: MRK) has signed an exclusive license agreement with Jiangsu Hengrui Pharmaceuticals for HRS-5346, an oral small molecule inhibitor targeting Lipoprotein(a) (Lp(a)), a key risk factor for atherosclerotic cardiovascular disease. Currently in Phase 2 trials in China, HRS-5346 aims to provide a much-needed treatment option for the 1 in 5 adults worldwide affected by elevated Lp(a) levels. With this partnership, Merck expands its cardio-metabolic pipeline, reinforcing its commitment to advancing cardiovascular care. The agreement grants Merck global development, manufacturing, and commercialization rights, excluding Greater China, while Hengrui Pharma will receive up to $1.97 billion in upfront and milestone payments, along with royalties on net sales.

The transaction is expected to close in Q2 2025, pending regulatory approvals. Merck anticipates recording a $200 million pre-tax charge, approximately $0.06 per share, upon deal completion. Dr. Dean Y. Li, president of Merck Research Laboratories, highlighted the potential of HRS-5346 in expanding treatment options, while Dr. Frank Jiang, EVP & Chief Strategy Officer of Hengrui Pharma, expressed confidence in Merck’s ability to accelerate the drug’s global development. This collaboration signals a major step forward in cardiovascular innovation, potentially transforming Lp(a)-related disease management for millions worldwide.