Merck Secures $2B Deal with Hengrui for Heart Disease Drug, Expanding Cardiovascular Pipeline

Merck & Co. has entered into a significant licensing agreement with China's Hengrui Pharma for a promising mid-stage heart disease medication. The deal, announced on March 25, 2025, marks a substantial investment in the competitive field of cardiovascular therapeutics and underscores the growing importance of lipoprotein(a) (Lp(a)) inhibitors in addressing global heart health concerns.

Deal Terms and Drug Profile

Merck will pay $200 million upfront to Hengrui Pharma for the ex-China rights to HRS-5346, a phase 2-stage Lp(a) inhibitor. The agreement includes potential milestone payments of up to $1.77 billion, as well as tiered royalties upon commercialization. HRS-5346 is an oral small molecule inhibitor designed to reduce the formation of Lp(a), a known risk factor for atherosclerotic cardiovascular disease affecting approximately 1.4 billion people worldwide.

Dr. Dean Li, President of Merck Research Laboratories, emphasized the drug's importance, stating, "Elevated blood concentrations of Lp(a) provides a well-documented risk factor for atherosclerotic cardiovascular disease, affecting as many as one in five adults globally. HRS-5346 is an important addition that expands and complements our cardio-metabolic pipeline."

Competitive Landscape and Market Potential

The acquisition of HRS-5346 positions Merck strategically in the evolving Lp(a) inhibitor market. Competitors in this space include Eli Lilly, whose muvalaplin demonstrated success in reducing Lp(a) levels over 12 weeks in a phase 2 study last November. Additionally, AstraZeneca made a $100 million investment in 2024 for a preclinical Lp(a) disrupter from CSPC Pharmaceutical Group.

Dr. Frank Jiang, Chief Strategy Officer at Hengrui, expressed optimism about the partnership, noting, "We believe Merck's clinical expertise and global scale will help accelerate the development of HRS-5346 and potentially provide more patients with an additional option to reduce their risk of atherosclerosis."

Hengrui's Recent Developments

While this deal represents a significant win for Hengrui, the company has faced both setbacks and successes in recent months. Last week, Hengrui and partner Elevar Therapeutics encountered a challenge when the FDA rejected their approval application for a PD-1 inhibitor combination therapy in liver cancer treatment.

However, Hengrui has also seen positive developments, including a $75 million licensing deal with Ideaya Biosciences for an antibody-drug conjugate. Furthermore, the company reported promising weight loss results for a GLP-1/GIP receptor dual agonist being developed in collaboration with Kailera Therapeutics, indicating a diverse and potentially lucrative pipeline beyond cardiovascular therapeutics.