BUZZ-China's CSPC soars on talks of licensing, commercializing products

Reuters
30 May
BUZZ-China's CSPC soars on talks of licensing, commercializing products

** Shares of CSPC Pharmaceutical Group 1093.HK jump 12.3% to HK$8.56, their highest since March 2023

** Stock set for the biggest one-day pct rise since November 2022; top pct gainer in the Hang Seng Index .HSI

** CSPC said it is in negotiations with independent third parties on three transactions involving license, collaboration in development, manufacturing and commercialization of certain products with upfront payments amounting to an aggregate $5 bln

** Hong Kong's healthcare index .HSCIH climbs 0.5%, Hang Seng Biotech Index .HSHKBIO gains 0.8%

** YTD, stock up 72.4%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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