AstraZeneca struck a landmark licensing and strategic collaboration with China’s CSPC Pharmaceutical Group to acquire global rights to an eight‑program obesity and type 2 diabetes portfolio. The deal includes a $1.2 billion upfront payment and potential milestones and sales payments pushing the total to roughly $18.5 billion, with CSPC retaining China‑region rights. AstraZeneca named SYH2082, a monthly peptide GLP1R/GIPR agonist entering Phase I, as a lead clinical‑ready asset. The agreement follows AstraZeneca’s broader China expansion and leverages CSPC’s AI‑enabled peptide platform plus AstraZeneca’s development and commercialization capabilities. The companies expect the transaction to close in 2026 and to accelerate monthly‑dosed alternatives to daily or weekly incretin therapies. For industry players, the transaction signals continued consolidation and outsized M&A valuations in obesity drug development, and underscores the strategic value of long‑acting peptide platforms and China partnerships in scaling next‑generation metabolic franchises.