Shanghai Henlius Biotech climbs on Sandoz licensing deal
BUZZ-Shanghai Henlius Biotech climbs on Sandoz licensing deal ** Shares of Shanghai Henlius Biotech Inc 2696.HK climb 1.9% to HK$68.6, on course for the biggest one-day pct gain since August 11
** Stock of the Shanghai Fosun Pharmaceutical 600196.SS-backed unit on track to snap three straight declining sessions
** Swiss generic drugmaker Sandoz SDZ.S will pay up to $77 million upfront to Shanghai Henlius Biotech for rights to three biosimilar drugs to treat cholesterol, lupus and colorectal cancer, the Chinese drugmaker said on Monday
** Sandoz said in a separate statement that it will gain global commercialisation rights to the drugs outside China
** YTD, Shanghai Henlius Biotech stock up 20.1%, while Shanghai Fosun Pharmaceutical Hong Kong 2196.HK and Shanghai shares down 13.4% and 9.2% respectively
(Reporting by Donny Kwok)
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