Fosun Pharmaceuticals announced that on December 9, its holding subsidiaries Yaoyou Pharmaceuticals and Fosun Pharmaceutical Industry signed a “license agreement” with Pfizer, and Pharmaceuticals granted Pfizer exclusive rights to develop small molecule GLP-1R agonists globally. Yakuyu Pharmaceutical will receive a non-refundable down payment of US$150 million and a development milestone payment of up to US$350 million. Based on the product's annual net sales, Pfizer will also pay up to US$1,585 billion in sales milestones and royalties. However, drug development is uncertain, and Pfizer has the right to terminate the agreement with written notice.

Fosun Pharmaceuticals announced that on December 9, its holding subsidiaries Yaoyou Pharmaceuticals and Fosun Pharmaceutical Industry signed a “license agreement” with Pfizer, and Pharmaceuticals granted Pfizer exclusive rights to develop small molecule GLP-1R agonists globally. Yakuyu Pharmaceutical will receive a non-refundable down payment of US$150 million and a development milestone payment of up to US$350 million. Based on the product's annual net sales, Pfizer will also pay up to US$1,585 billion in sales milestones and royalties. However, drug development is uncertain, and Pfizer has the right to terminate the agreement with written notice.