Latest news with #JiangsuHengruiPharmaceuticals
Bloomberg
23-05-2025
- Business
- Bloomberg
Chinese Firms' Stellar HK Debuts Spur Hopes of Valuation Shift
The robust performance of two major Hong Kong stock listings this week has raised hopes that a small group of elite Chinese companies may start driving a shift to end the city's historical discount to mainland markets. The latest addition to the cohort is Jiangsu Hengrui Pharmaceuticals Co., China's largest drugmaker by market value, which surged as much as 37% in its trading debut Friday in the Asian financial hub after raising HK$9.9 billion ($1.3 billion). The company's H-shares briefly commanded a 0.3% premium over its Shanghai-listed A-shares, before reverting to a discount of 4%.
Reuters
14-05-2025
- Business
- Reuters
China's Jiangsu Hengrui Pharmaceuticals aims to raise up to $1.27 billion in Hong Kong IPO
May 15 (Reuters) - China-based Jiangsu Hengrui Pharmaceuticals is seeking to raise up to HK$9.89 billion ($1.27 billion) in a Hong Kong initial public offering, according to a regulatory filing made on Thursday. ($1 = 7.8042 Hong Kong dollars)
South China Morning Post
05-05-2025
- Business
- South China Morning Post
Ahead of Hong Kong IPO, China drug maker Hengrui touts partnership with US giant Merck
Jiangsu Hengrui Pharmaceuticals, a leading Chinese developer of novel drugs that recently received approval to go public in Hong Kong, is likely to see an acceleration in growth as its research and development (R&D) pipeline bears fruit, analysts said. Advertisement 'Hengrui has achieved an industry-leading, highly differentiated innovative drugs pipeline, of which some have the potential to become commercialised heavyweights,' said Yongxing Securities analyst Peng Bo in a note on April 29. 'We expect its sales growth will continue to be driven by novel drugs, with the licensing of intellectual property rights to overseas partners as the second biggest revenue driver.' Last week, Hengrui said it received regulatory approval to float up to 815 million new shares on Hong Kong's stock exchange, which would account for 11.3 per cent of its enlarged share capital. Hengrui is seeking to raise up to US$2 billion, according to media reports. The company, which is based in eastern China's Jiangsu province, began operations in 1970 as state-owned Lianyungang Pharmaceutical Factory. It listed in Shanghai in 2000. Advertisement Over the years, it has shifted focus to developing novel drugs from making generic medicines. It has spent 44 billion yuan (US$6.05 billion) on R&D since 2000, according to its website, the highest tally on the mainland.
Yahoo
25-03-2025
- Business
- Yahoo
Merck Bets $2B on China's Hengrui for Next Big Heart Drug
Merck (NYSE:MRK) is doubling down on China's biotech boomthis time with a $2 billion licensing deal for a potential blockbuster heart drug from Jiangsu Hengrui Pharmaceuticals. The deal gives Merck global rights (excluding Greater China) to develop and commercialize HRS-5346, an experimental oral treatment targeting lipoprotein(a)a lesser-known but dangerous cardiovascular risk factor. Merck will pay $200 million upfront, with the rest tied to development and commercial milestones. If approved, HRS-5346 could carve out a new lane in the treatment of atherosclerosis-related conditions like heart attacks and strokes. The transaction is expected to close in Q2 2025. Warning! GuruFocus has detected 1 Warning Sign with MRK. This move continues a clear strategy: Merck is tapping China for high-impact science at leaner valuations. Just last year, it cut billion-dollar deals with Hansoh Pharma and LaNova, targeting obesity and early-stage cancer drugs. Now, with HRS-5346 in mid-stage trials, Merck is building out its cardio-metabolic pipeline with speedand precision. It's part of a broader shift where Big Pharma isn't just looking to China for manufacturing scale, but for next-gen drug innovation that's ready to move globally. HRS-5346's targetelevated lipoprotein(a)is a genetically inherited condition impacting roughly 1.4 billion people. It's also underdiagnosed and largely untreated, giving Merck an opening in a space with high unmet need and little direct competition. Merck's president of R&D called it a natural fit for the company's expanding cardiovascular portfolio. And with a global spotlight on metabolic health, this latest deal positions Merck to play offensenot just defensein one of medicine's biggest markets. This article first appeared on GuruFocus. Sign in to access your portfolio
Reuters
25-03-2025
- Business
- Reuters
Merck buys rights to heart disease drug in latest China deal
March 25 (Reuters) - Merck (MRK.N), opens new tab has signed a licensing agreement for a heart disease drug with Jiangsu Hengrui Pharmaceuticals ( opens new tab worth up to $2 billion, the latest in a series of deals U.S. drugmakers have recently signed with China-based firms. Large drugmakers including Merck and Eli Lilly (LLY.N), opens new tab have turned to Chinese biotechs for deals that give them access to new drugs for a cheaper investment, analysts have said. here. Most recently, Danish drugmaker Novo Nordisk ( opens new tab bought global rights to China-based United Laboratories International's ( opens new tab weight-loss drug candidate in a deal worth up to $2 billion. Merck (MRK.N), opens new tab last year signed a licensing deal worth up to $2 billion for Chinese biotech Hansoh Pharma's ( opens new tab experimental oral drug to treat obesity. It also bought the rights to an early-stage cancer drug from China's LaNova in an up to $3.3 billion deal. Under the latest deal, announced on Tuesday, Merck will get exclusive rights to develop, manufacture and sell Jiangsu Hengrui Pharmaceuticals' experimental oral heart disease drug, HRS-5346, worldwide, except in the Greater China region. The drug, currently being studied in a mid-stage trial in China, belongs to a class of drugs which prevent formation of cholesterol, fats and proteins in the blood, which can limit the blood flow to vital organs resulting in heart attack, stroke and other cardiovascular diseases. Hengrui Pharma will receive an upfront payment of $200 million and will be eligible for up to $1.77 billion if it meets certain development, regulatory and commercial milestones, as well as royalties on net sales of HRS-5346, if approved. The deal is expected to close in the second quarter of 2025.
