BUZZ-Henlius soars on deal with India's Dr. Reddy's Labs for myeloma drug

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BUZZ-Henlius soars on deal with India's Dr. Reddy's Labs for myeloma drug

Reuters02-07

** Shanghai Henlius Biotech 2696.HK soars 10.8% to HK$20.50; set for biggest one-day pct gain since June 25, 2024

** Stock hits highest since January 14; on course for fifth straight session of gains

** Biopharmaceuticals products maker grants India-based Dr. Reddy's Laboratories SA REDY.NS license to develop, manufacture and commercialise HLX15 in the U.S. and 42 European countries, including the UK and Switzerland, as it deepens overseas expansion

** Says Dr. Reddy's will pay $33 mln upfront and milestone payments of up to $98.6 mln in total and royalties of up to 8% of annual net sales

** HLX15 is used to treat multiple myeloma

** REDY up 0.1%; set for fourth straight session of gains

** Shanghai Henlius's stock soared 70.5% last year

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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