HKEX Stock Surge: Hengrui Medicine Jumps Over 10% on Landmark Collaboration with GSK

Gelonghui July 28 | Hengrui Pharma (1276.HK) opened 10.65% higher at HK$75.3. Its A-share opened 6.56% higher at RMB60.1, hitting a new high since July 2021.

On the news front, Hengrui Pharma announced that Jiangsu Hengrui Pharmaceuticals Co., Ltd. has reached an agreement with biopharmaceutical company GSK to grant GSK the global exclusive rights (excluding mainland China, the Hong Kong Special Administrative Region, the Macao Special Administrative Region, and Taiwan) for the HRS-9821 project, along with the exclusive option for global exclusive licenses for up to 11 projects, under a paid licensing arrangement.

GSK to Pay Hengrui Pharma $500 Million Upfront; Hengrui Could Receive up to $12 Billion in Potential Milestone Payments