SINO BIOPHARM (01177.HK) saw its stock price surge by 5.21% during the intraday session on Wednesday. This significant movement follows the company's announcement of its acquisition of China-based Hangzhou Hygieia Biomedical for up to 1.20 billion yuan ($172.04 million).
The acquisition is part of SINO BIOPHARM's strategy to strengthen its portfolio of chronic-disease treatments, which is expected to enhance its market position and future earnings potential. Investors reacted positively to the news, driving the stock higher during the trading session.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments