HK Stock Market Move | HEC CJ PHARM(01558) surged over 6% and reached a licensing agreement with Apollo for overseas equity in project HEC88473.

HEC CJ PHARM (01558) rose more than 6%, as of the time of writing, it increased by 6.01% to HKD 9.52, with a turnover of HKD 5.3287 million. On the news front, HEC CJ PHARM announced that it has reached an authorization agreement with Apollo, granting Apollo exclusive development and commercialization rights for the HEC88473 project developed by the company outside of Greater China, while reserving the development and commercialization rights in Greater China. Under the agreement, the company is expected to receive up to USD 938 million during the term of the agreement, including an initial payment of USD 12 million and up to USD 926 million in development, regulatory, and commercial milestone payments.