New Novartis: Jointly invest in setting up a joint venture company focusing on GLP-1 target and related products.

The new Norwea announcement stated that the company plans to jointly invest 450 million yuan with Zhongqi Pharmaceutical to establish a joint venture company, of which the company plans to invest 158 million yuan with its own funds, accounting for 35% of the registered capital of the joint venture company. The joint venture company plans to focus on the research, industrialization, and commercialization of innovative metabolic drugs, mainly focusing on GLP-1 targets and other related products, covering the treatment areas of overweight/obesity and type 2 diabetes, and continuously developing new drug formulations and expanding indications. After the establishment of the joint venture company, it will take over all GLP-1 target and related product pipelines under Shiyao Group.