China's CSPC hits 7-week peak on AstraZeneca tie-up, products progress

CSPC PHARMACEUTICAL

03/07/2026 03:15

** Shares of CSPC Pharmaceutical Group 1093.HK climb 7% in the second rising session to HK$8.08, their highest level since May 14
** CSPC said on Thursday it had entered into an agreement with London-listed AstraZeneca AZN.L to jointly develop pre-clinical candidates with potential to treat renal diseases using the group's siRNA drug discovery platform
** AstraZeneca will have the option to obtain the exclusive rights for the development, manufacturing and commercialisation of the drug globally or outside of China in exchange for payments totalling $1.77 bln, including an upfront payment of $30 mln
** CSPC also says its iron sucrose injection receives marketing approval in China, its SYS6043 granted breakthrough therapy designation for platinum-resistant ovarian cancer, and its recombinant herpes zoster vaccine obtains clinical trial approval in China
** YTD, stock down 6.1%, Hang Seng Biotech Index .HSBIO down 3.4%
     
     

(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))