The Zhitong Finance App learned that China Biopharmaceuticals (01177) rose nearly 4%. As of press release, it had risen 3.64% to HK$5.695, with a turnover of HK$897.588 million.

According to the news, China Biopharmaceuticals announced that the group's subsidiary, Zhengda Tianqing Pharmaceutical Group Co., Ltd. (STADA), and STADA Arzneimittel AG (STADA) have reached a strategic cooperation on biosimilar drugs, and the two sides will work together to improve the accessibility of biosimilar drugs to patients in many regions around the world.

According to the terms and conditions of the agreement, Chia Tai Tianqing will receive a down payment and is entitled to potential development, regulatory and sales milestone payments, up to a total of 53 million euros. At the same time, Chia Tai Tianqing will enjoy a double-digit share of profits generated by pabolizumab biosimilar drug candidates in authorized regions.

Chia Tai Tianqing will lead the R&D, production and commercial supply of candidate biosimilar drugs within authorized regions. STADA will hold a marketing license for such biosimilar drugs in authorized regions and enjoy exclusive sales and marketing rights. Additionally, STADA also has options for the US and Gulf Cooperation Council (GCC) member countries.

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