HK Stock Market Move | Jiangsu Hengrui Pharmaceuticals (01276) rose over 5% in the afternoon session. The company has officially launched a new round of share buybacks, with the first buyback costing RMB 14.5 million.

Jiangsu Hengrui Pharmaceuticals (01276) rose over 5% in the afternoon session. As of press time, it was up 5.22% at HK$46.74, with a turnover of HK$171 million. On the news front, on the evening of September 17, Jiangsu Hengrui Pharmaceuticals announced that the company repurchased 335,000 A-shares for the first time through centralized bidding, accounting for 0.005% of the company's total share capital, with a total amount paid of RMB 14.5036 million. According to a previously released announcement, the total repurchase funds for this round are no less than RMB 1 billion and no more than RMB 2 billion. Just before the launch of this new round of buybacks, Jiangsu Hengrui Pharmaceuticals had just completed its previous round of share repurchases. It is worth noting that on September 15, Jiangsu Hengrui Pharmaceuticals announced that its subsidiary Fujian Shengdi Pharmaceutical's HRS-4139 tablets received clinical trial approval from the National Medical Products Administration, agreeing to conduct clinical trials for moderate-to-severe plaque psoriasis. On the same day, the injectable recaticimab of its subsidiary Guangdong Jiangsu Hengrui Pharmaceuticals received clinical trial approval, agreeing to conduct a Phase III clinical trial, with the indication being for adult patients with intracranial atherosclerotic stenosis to reduce the risk of stroke recurrence.