Changes in Hong Kong stocks | Genting Xinyao (01952) rose more than 4% in the afternoon. The company signed a commercial service agreement and license agreement with Hisense Biotech

The Zhitong Finance App learned that Genting Xinyao (01952) rose more than 4% in the afternoon. As of press release, it had risen 4.65% to HK$45.8, with a turnover of HK$172 million.

According to the news, Genting Xinyao announced that its wholly-owned subsidiary Genting Xinyao Pharmaceutical Technology Co., Ltd. has signed two strategic cooperation agreements with Hisense Biomedical Co., Ltd. According to the commercial service agreement, Genting Xinyao Pharmaceutical Technology will rely on the existing sales and marketing system to provide commercial services for six mature products under Hisense Biotech, covering the fields of acute and severe illness, cardiovascular and metabolic diseases, and can give full play to the advantages and layout of Genting Xinyao's existing commercial platform.

According to the license agreement, Genting Xinyao Pharmaceutical Technology has obtained an exclusive license to carry out subsequent clinical development, registration and commercialization of Lerodalcibep (Lerodalcibep) in Greater China, further enriching its late-stage pipeline layout. Under the license agreement, Genting Xinyao Pharmaceutical Technology will pay an initial payment of approximately $205 million, potential development and regulatory milestone payments of up to $212 million and potential sales milestone payments of up to $1,977 million; and potential royalty fees based on net sales.