Changes in Hong Kong stocks | Fu Hong Hanlin (02696) rose nearly 8% and recently teamed up with Sandoz to go overseas with up to 10 biosimilar drugs

The Zhitong Finance App learned that Fu Hong Hanlin (02696) rose nearly 8%. As of press release, it had risen 6.48% to HK$69.8, with a turnover of HK$10,8274 million.

According to the news, Fuhong Hanlin recently announced that it has signed a cooperation framework agreement with Sandoz (Sandoz), a global generic drug and biosimilar company. The two sides will establish strategic cooperation on up to 10 monoclonal and/or antibody conjugate drug (ADC) biosimilar products or ingredients, and reach specific cooperation terms on the options for the first batch of 3 products and 1 potential cooperative product. Based on the first batch of agreements mentioned above, Sandoz will pay Fuhong Hanlin a total of up to US$322 million in down payment, related milestone payments, and non-refundable option fees; in 2026, Fuhong Hanlin expects to reach a total invoicing amount of no more than US$100.5 million.

It is worth mentioning that overseas markets have become an important part of Fuhong Hanlin's performance growth. In 2025, the company achieved operating income of 6.667 billion yuan, an increase of 16.5% over the previous year; net profit of 827 million yuan. Among them, global product revenue reached 5.775 billion yuan, an increase of 17.0% year on year; revenue from overseas products exceeded 200 million yuan, double the year-on-year increase; and profit from overseas products reached 94 million yuan.