HK Stock Market Move | SIHUAN PHARM (00460) rose nearly 4% in the morning as Xuan Bamboo Biotechnology reached a commercial cooperation agreement with INNOBIC for the marketing of Pirfenidone in the Thai market.

SIHUAN PHARM (00460) rose nearly 4% in the morning session, and as of the time of writing, it has increased by 3.92%, trading at HKD 0.795, with a trading volume of HKD 9.813 million. On September 3, SIHUAN PHARM announced that its non-wholly-owned subsidiary, Xuan Zhu Biotechnology Co., Ltd. (Xuan Zhu Biotechnology, 02575), signed a tripartite commercial agreement (the Agreement) with Thai pharmaceutical company Innobic (Asia) Co., Ltd. (Innobic (Asia)) and ZaoAn International Trading Co., Ltd. (ZaoAn International) regarding the commercialization of Xuan Zhu Biotechnology's pirfenidone tablets (the Target Product), effective until June 30, 2036. According to the Agreement, Xuan Zhu Biotechnology grants Innobic (Asia) and ZaoAn International exclusive commercialization rights for the Target Product in the territory of Thailand (the Target Region). These commercialization rights include the rights to import, promote, market, offer for sale, sell, and distribute the Target Product within the Target Region. Innobic (Asia) will act as the distributor, responsible for the drug registration, local marketing, and commercialization operations of the Target Product in the Target Region. The marketing authorization for the Target Product will be held in the name of Innobic (Asia). ZaoAn International will act as an intermediary, undertaking the primary payment responsibility under the purchase orders. Xuan Zhu Biotechnology will supply the Target Product at the agreed supply price to support the commercialization activities of the Target Product in the Target Region.