Henlius soars on deal with India's Dr. Reddy's Labs for myeloma drug

Shanghai Henlius Biotech

07/02/2025 06:05

** Shanghai Henlius Biotech  2696.HK  soars 10.8% to
HK$20.50; set for biggest one-day pct gain since June 25, 2024
    ** Stock hits highest since January 14; on course for fifth
straight session of gains
    ** Biopharmaceuticals products maker grants India-based Dr.
Reddy's Laboratories SA  REDY.NS  license to develop,
manufacture and commercialise HLX15 in the U.S. and 42 European
countries, including the UK and Switzerland, as it deepens
overseas expansion
    ** Says Dr. Reddy's will pay $33 mln upfront and milestone
payments of up to $98.6 mln in total and royalties of up to 8%
of annual net sales
    ** HLX15 is used to treat multiple myeloma
        ** REDY up 0.1%; set for fourth straight session of
gains
  
    ** Shanghai Henlius's stock soared 70.5% last year

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