HONG KONG (Reuters) -China’s Jiangsu Hengrui Pharmaceuticals said on Monday it has agreed to license the global rights of its HRS-9821 drug and 11 other programmes to GlaxoSmithKline Intellectual Property (GSK) for $500 million upfront.
The Chinese pharma group said it could earn up to $12 billion in milestone payments if all options are exercised and targets are met.
HRS-9821 is being developed to treat chronic obstructive pulmonary disease (COPD), while the other projects are in early development across areas such as oncology, respiratory, immunology, and inflammation.
Shanghai shares of Jiangsu Hengrui climbed 6.6% and its Hong Kong-listed stock jumped 8.5%, outperforming the blue-chip CSI 300 Index’s 0.1% slip and the Hang Seng Index’s 0.3% gain.
(Reporting by Hong Kong newsroom; Editing by Sumana Nandy)
