The Zhitong Finance App learned that Zhongsheng Pharmaceutical (01177) increased by nearly 7%, rising more than 20% during the month. As of press release, it rose 4.8% to HK$5.24, with a turnover of HK$697 million.

According to the news, Zhongsheng Pharmaceutical announced that it will license overseas rights for TQC3721 (PDE3/4 inhibitor), a self-developed innovative drug for chronic obstructive pulmonary disease (COPD), to AstraZeneca for a total of up to 1.9 billion US dollars. According to reports, TQC3721 is the PDE3/4 inhibitor with the second highest clinical progress in the world and the most advanced in China.

Under the agreement, Zhongsheng will grant AstraZeneca an exclusive license to develop, manufacture and commercialize TQC3721 outside of China. AstraZeneca will also obtain an exclusive global (including China) license for TQC3721's specific development program. Zhongsheng is entitled to a down payment of $200 million and potential development, regulatory and sales milestone payments of up to $1.7 billion, while also receiving tiered royalties of up to double digits.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.