On July 10, Sino Biopharmaceutical rose 3.2% in regular trading, trading at HK$5.17/share, with turnover of HK$166 million. The stock continued its upward momentum following the announcement of two major deals earlier this week.

On the news front, the company's subsidiary Chia Tai Tianqing Pharmaceutical signed an exclusive licensing agreement with AstraZeneca for its self-developed PDE3/4 inhibitor TQC3721, granting overseas development and commercialization rights for up to US$1.9 billion in total consideration, including a US$200 million upfront payment plus development, regulatory, and sales milestone payments, along with tiered royalties. Simultaneously, the company deepened its exclusive strategic partnership with GSK, securing commercialization rights for Trelegy Ellipta and Anoro Ellipta, two blockbuster COPD drugs, in mainland China, expanding their collaboration from liver diseases into respiratory diseases.

Goldman Sachs recently raised its earnings estimates for the company, while CMB International maintained a Buy rating with a target price of HK$8.70, noting that consecutive global out-licensing deals fully demonstrate the company's internal R&D innovation capabilities. This marks the company's second cross-border pharma licensing transaction this year following its earlier collaboration with Sanofi.

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