SINO BIOPHARM Shares Surge Over 5% on $1.53 Billion Licensing Deal with Sanofi for Rovadicitinib

Stock News03-05

SINO BIOPHARM (01177) rose more than 5%, leading gains among blue-chip stocks. At the time of writing, the stock was up 5.25% to HK$6.01, with a turnover of HK$146 million. The increase follows the company's announcement of an exclusive licensing agreement with Sanofi for rovadicitinib, a first-in-class, novel, and potent oral small-molecule JAK/ROCK inhibitor. Under the agreement, SINO BIOPHARM's subsidiary, Zhengda Tianqing, granted Sanofi exclusive global rights to develop, manufacture, and commercialize rovadicitinib. SINO BIOPHARM is eligible to receive up to $1.53 billion, including an upfront payment of $135 million and potential development, regulatory, and sales milestone payments. The company will also receive tiered royalties of up to double-digit percentages based on the annual net sales of rovadicitinib. The agreement is subject to customary closing conditions, including approvals from relevant regulatory authorities.

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