HK Stock Market Move | InnoCare Pharma (09969) rose more than 5% in the afternoon; recently signed a major agreement with Eli Lilly, further accelerating the company's overseas expansion.

InnoCare Pharma (09969) rose more than 5% in the afternoon. As of press time, it was up 4.64% at HK$13.99, with a turnover of HK$20.2039 million. On the news front, InnoCare Pharma recently announced that the company and Eli Lilly have entered into a strategic R&D and licensing cooperation agreement to discover and develop up to 5 innovative target projects. Under the terms of the agreement, InnoCare Pharma is entitled to receive up to US$100 million in upfront and near-term payments, as well as up to US$3.25 billion in development and commercialization milestone payments. In addition, InnoCare Pharma is entitled to receive tiered royalties at a single-digit percentage rate on annual net sales of licensed products. Zheshang pointed out that the signing of this agreement is conducive to the company leveraging its own R&D platform to collaborate with Eli Lilly on the development of innovative drugs, which will help further enhance the listed company's international competitiveness and influence, marking another step forward in the company's overseas expansion. Considering that the company's core products are in a stage of rapid commercialization ramp-up, the commercialized product pipeline is continuously improving, and pipelines under research such as BCL2, orelabrutinib, and TYK2 are advancing rapidly, the "Buy" rating is maintained.