HK Stock Market Move | SINO BIOPHARM(01177) up more than 5%, Roche's atezolizumab authorized by Sanofi, potential receipts exceed 1.5 billion US dollars.

SINO BIOPHARM (01177) rose more than 5%, temporarily leading the blue-chip stocks. As of the time of writing, it rose by 5.25% to HK$6.01, with a turnover of HK$146 million. On the news front, SINO BIOPHARM recently announced an exclusive licensing agreement with Sanofi for roflumilast, a globally first-in-class new and potent oral small molecule JAK/ROCK inhibitor. According to the agreement, SINO BIOPHARM's subsidiary, Zhejiang Hisun Pharmaceutical, granted Sanofi exclusive rights to develop, manufacture, and commercialize roflumilast globally. SINO BIOPHARM has the right to receive a maximum payment of USD 1.53 billion, including a USD 135 million upfront payment and potential development, regulatory, and sales milestone payments. In addition, it will also receive high double-digit tiered royalties based on the annual net sales of roflumilast. The agreement is subject to customary closing conditions, including obtaining approvals from relevant regulatory authorities.