Shanghai Junshi Biosciences HK shares hit 4-week peak on Fosun's licensing deal
BUZZ-Shanghai Junshi Biosciences HK shares hit 4-week peak on Fosun's licensing deal ** Hong Kong shares of Shanghai Junshi Biosciences 1877.HK jump 14.5% to HK$19.06, their highest level since June 2
** Shanghai-listed stock 688180.SS climbs 5.2% to 37.77 yuan, the highest point since May 22
** China-based innovative drugs developer says it has entered into a license agreement to grant Shanghai Fosun Pharmaceutical's 600196.SS unit Fosun Wanbang (Jiangsu) Pharmaceutical the right to develop, manufacture and commercialize roconkibart “JS005” in Greater China region
** Shanghai Junshi will receive an upfront payment of 215 mln yuan ($31.69 mln) and will be eligible to receive milestone payments for product development and sales of 1.125 bln yuan, and double-digit tiered royalties based on net sales in the Greater China region - co
** Hong Kong stock of Shanghai Fosun Pharmeceutical 2196.HK climb 6.4% and Shanghai-listed shares 600196.SS up 2.2%
** YTD, Shanghai Junshi Hong Kong stock down 15.3%, while Shanghai-listed shares up 4%
** Hang Seng Biotech Index .HSBIO down 6.5% YTD
($1 = 6.7855 Chinese yuan renminbi)
(Reporting by Donny Kwok)