GlaxoSmithKline (GSK) has entered a major licensing agreement with Jiangsu Hengrui Pharmaceuticals worth $500 million upfront and potential milestones totaling $12 billion. The deal grants GSK rights to 12 molecules including the phase I phosphodiesterase 3 and 4 inhibitor HRS-9821 targeting chronic obstructive pulmonary disease (COPD). The partnership aims to bolster GSK’s respiratory disease portfolio and expand pipelines in immunology and oncology, marking a significant example of cross-border collaboration in biopharma development.