GlaxoSmithKline (GSK) has agreed to a licensing deal worth $500 million upfront with China’s Jiangsu Hengrui Pharmaceuticals, acquiring rights to an experimental COPD drug and options on 11 other medicines in immunology and oncology. The pact could total $12 billion if all milestones are met. GSK aims to broaden its respiratory therapy portfolio by including HRS-9821, which targets patients unresponsive to current COPD treatments. This agreement exemplifies the expanding collaboration between Western pharmas and Chinese biotechs to diversify pipelines.