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CSPC PHARMA Partners with AstraZeneca to Develop Innovative Long-Acting Peptide Medicines w/ Upfront Payment of $9.3B+, Yet Shr Price Plunges 10%
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CSPC PHARMA (01093.HK) has entered into a strategic collaboration and license agreement with AstraZeneca PLC (AZN.US) for the development of innovative long-acting peptide medicines, utilizing the Group's proprietary sustained-release delivery technology platform and AI-driven peptide drug discovery platform, as announced by CSPC PHARMA. For access to eight programmes, as well as the platforms, by AstraZeneca PLC, the Group will receive an upfront payment of US$1.2 billion (approx. $9.36 billion) and is also eligible to receive up to US$3.5 billion in potential research and development milestone payments and up to US$13.8 billion in potential sales milestone payments, plus up to double-digit royalties based on the annual net sales of the relevant licensed products. Today (30th), CSPC PHARMA opened 2.34% higher at $10.94, and once peaked at $10.96 in the morning session. It last printed at $9.61, plunging 10.1%, with a trading volume of 2.206 billion shares, involving $2.206 billion. AASTOCKS Financial News Website: www.aastocks.com |
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