HK-listed Mabpharm hits one-year high on new drug approval

Mabpharm

15/07/2021 03:19

** Shares of Chinese cancer drugmaker  2181.HK  jump 14.8%
to HK$1.40, their highest since July 13, 2020 
    ** Stock set for best day since Jan. 12, among top 30
percentage gainers on the Hong Kong bourse
    ** Jiangsu-based company says China's National Medical
Products Administration has approved its new drug application
for its core product, infliximab for injection, a monoclonal
antibody for treatment of ulcerative colitis in adults
 urn:newsml:reuters.com:*:nFWN2OQ0C9
    ** Says the company will commercialize the product in the
mainland and has initiated cooperation with partners to expand
the product to overseas markets 
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
climbs 0.5%, while the healthcare index  .HSCIH  slides 0.8%
    ** The Hang Seng China Enterprises Index  .HSCE  gains 0.5%,
and the benchmark index  .HSI  rises 0.6%
    ** As of last close, stock up 16.2% this year

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