Hansoh Pharmaceutical (03692.HK) Jumps Over 2% on $112M Upfront Deal with MSD for Global Rights to Oral GLP-1 Agonist HS-10535

According to the Zhitong Finance APP, Hansoh Pharma (03692) opened more than 2% higher. As of the time of writing, it rose by 2.27%, trading at HK$18.9, with a turnover of HK$8.7318 million.

On the news front, on December 18, Hansoh Pharma and Merck announced that they had signed a global exclusive licensing agreement for HS-10535 (an investigational oral small-molecule GLP-1 receptor agonist). According to the agreement, Hansoh Pharma grants Merck the global exclusive license to develop, manufacture, and commercialize HS-10535. Hansoh Pharma will receive an upfront payment of $112 million and is eligible to receive milestone payments of up to $1.9 billion based on the development, regulatory approval, and commercialization progress of the drug candidate. Additionally, Hansoh Pharma will also receive royalties based on product sales. Under specific conditions, Hansoh Pharma may co-promote or exclusively commercialize HS-10535 in China.