LONDON, Jan 31, 2026, 19:07 GMT — Market closed
AstraZeneca PLC (AZN.L) shares climbed on Friday after the drugmaker struck a deal to license obesity and weight management drug candidates from CSPC Pharmaceutical Group, in a pact valued at up to $18.5 billion. CSPC revealed AstraZeneca would pay $1.2 billion upfront, with an additional $17.3 billion contingent on meeting milestones. Tony Ren of Macquarie Capital described the move as a “buy the rumour, sell the news” play, after CSPC’s shares dropped nearly 12% in Hong Kong. (Reuters)
The deal pushes AstraZeneca further into the weight-loss sector, one of the few pharma areas where investors focus on growth potential instead of looming patent expirations. The obesity treatment market is expected to hit $100 billion by 2030, with Novo Nordisk and Eli Lilly currently leading the pack. (Financial Times)
Just a day before, AstraZeneca revealed a $15 billion investment plan in China running through 2030, targeting a boost in manufacturing and R&D in what it calls its second-biggest market. CEO Pascal Soriot described the move as the start of “an exciting next chapter” for the company in China, highlighting cell therapy and radioconjugates as key focuses. The announcement came during UK Prime Minister Keir Starmer’s visit to Beijing. (AstraZeneca)
In London, AstraZeneca closed Friday at 135.48 pounds, gaining 0.65%, with the session peak hitting 136.00. On the U.S. side, its shares were last quoted at $92.77, up 0.19%, according to the company’s investor site. (AstraZeneca)
AstraZeneca revealed in a U.S. Securities and Exchange Commission filing that it will pay $1.2 billion upfront for access to eight programmes. CSPC could earn up to $3.5 billion more in development and regulatory milestones, alongside sales milestones and tiered royalties. The deal is slated to close in Q2 2026, pending regulatory approval. Included is SYH2082, a long-acting GLP-1/GIP agonist designed for once-monthly dosing, now entering Phase I. The package also grants access to an AI-driven peptide drug discovery platform and LiquidGel monthly dosing technology. AstraZeneca secures rights outside China, while CSPC retains rights in China, Taiwan, Hong Kong, and Macau, the filing indicated. AstraZeneca’s Sharon Barr highlighted the focus on improving “adherence and convenience,” while CSPC chairman Dongchen Cai described it as a “win-win collaboration.” (Securities and Exchange Commission)
GLP-1 drugs replicate a gut hormone that reduces appetite and aids blood sugar regulation. Phase I marks the initial human testing phase, centered on safety, and most experimental drugs never reach the market. Investors are keen to see if once-monthly dosing delivers the same weight loss as weekly injections without introducing new side effects.
AstraZeneca is overhauling its U.S. listing by delisting its American depositary shares (ADS) from Nasdaq and listing its ordinary shares directly on the New York Stock Exchange. This change will take effect after the market closes on Jan 30, the company announced earlier this month. The current ADSs, which represent ordinary shares on a two-for-one basis, will be replaced as part of a shareholder-approved effort to streamline the group’s trading structure. (Reuters)
Mark your calendar: AstraZeneca is set to release its full-year and Q4 2025 results at 07:00 GMT on Tuesday, Feb 10. Later that morning, at 11:45 GMT, the company will host a webcast for investors and analysts. Updates on guidance, R&D spending, and the impact of its China deals could shape the stock’s next move. (AstraZeneca)
However, most of the headline value in the CSPC deal is tied to milestones and revenue expected years down the line. If the early-stage weight-management drugs falter, AstraZeneca will have already paid a hefty upfront sum and doubled down on its China play.
London trading kicks off again Monday as investors mull whether the obesity deal and the U.S. listing switch will spark sustained interest or simply fizzle out before Feb 10
results.
