Jiangsu Hengrui grants GSK global rights to drug portfolio in $500 million deal
The Chinese pharma group said, opens new tab 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 (.CSI300), opens new tab 0.1% slip and the Hang Seng Index's (.HSI), opens new tab 0.3% gain.
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