On October 2, HENGRUI PHARMA fell 3.27% in regular trading, trading at HK$48.48/share, with turnover of HK$35.20 million. The decline follows two consecutive sessions of sharp gains driven by a landmark licensing deal with Novo Nordisk, with the stock having surged as much as 10.09% on September 30.

On September 29, Hengrui announced it had granted Novo Nordisk exclusive global rights (excluding Greater China) to develop, manufacture, and commercialize HRS-1596, an oral GLP-1/GIP dual receptor agonist for obesity and type 2 diabetes. The deal is valued at up to $2.6 billion, including a $300 million upfront payment and up to $2.3 billion in milestone payments, plus tiered royalties. Morgan Stanley maintained an Overweight rating with a HK$82 target, noting the $300 million upfront is substantial for a Phase 1 asset. Citi raised its target to HK$120.

The broader Pharmaceuticals sector is under pressure, with HANSOH PHARMA down 4.14%, SBP GROUP down 4.47%, CSPC PHARMA down 3.53%, HUTCHMED down 3.22%, and SHINEWAY PHARM down 2.11%. Separately, BlackRock reduced its long position in the company to 6.96% on September 24.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)