The Zhitong Finance App learned that Nuochengjianhua (09969) rose more than 5% in the afternoon. As of press release, it rose 4.64% to HK$13.99, with a turnover of HK$20.39 million.

According to the news, Nuochengjianhua recently announced that the company and Lilly have reached a strategic cooperation agreement on R&D and licensing, and discovered and developed up to 5 innovative target projects. Under the terms of the agreement, Nuochengjianhua is entitled to receive up to $100 million in down payments and recent payments, as well as up to $3.25 billion in development and commercialization milestone payments. Additionally, Nochengjianhua has the right to charge a single-digit percentage tiered royalty fee on the annual net sales of licensed products.

Zheshang Securities pointed out that the signing of this agreement will help the company use its own R&D platform to cooperate with Eli Lilly to develop innovative drugs, help further enhance the international competitiveness and influence of listed companies, and further advance the company's overseas expansion. Considering that the company's core products are in the rapid commercialization phase, the commercial product echelon is constantly being improved, and BCL2, obutinib, TYK2, etc. are progressing rapidly in the research pipeline, maintaining a “buy” rating.

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