March 25 (Reuters) - Merck ( MRK ) has signed a

licensing agreement for a heart disease drug with Jiangsu

Hengrui Pharmaceuticals worth up to $2 billion, the

latest in a series of deals U.S. drugmakers have recently signed

with China-based firms.

Large drugmakers including Merck ( MRK ) and Eli Lilly ( LLY ) have

turned to Chinese biotechs for deals that give them access to

new drugs for a cheaper investment, analysts have said.

Most recently, Danish drugmaker Novo Nordisk

bought global rights to China-based United Laboratories

International's ( ULIHF ) weight-loss drug candidate in a deal

worth up to $2 billion.

Merck ( MRK ) last year signed a licensing deal worth up to

$2 billion for Chinese biotech Hansoh Pharma's

experimental oral drug to treat obesity. It also bought the

rights to an early-stage cancer drug from China's LaNova in an

up to $3.3 billion deal.

Under the latest deal, announced on Tuesday, Merck ( MRK ) will get

exclusive rights to develop, manufacture and sell Jiangsu

Hengrui Pharmaceuticals' experimental oral heart disease drug,

HRS-5346, worldwide, except in the Greater China region.

The drug, currently being studied in a mid-stage trial in

China, belongs to a class of drugs which prevent formation of

cholesterol, fats and proteins in the blood, which can limit the

blood flow to vital organs resulting in heart attack, stroke and

other cardiovascular diseases.

Hengrui Pharma will receive an upfront payment of $200

million and will be eligible for up to $1.77 billion if it meets

certain development, regulatory and commercial milestones, as

well as royalties on net sales of HRS-5346, if approved.

The deal is expected to close in the second quarter of 2025.