AB&B Bio-Tech (HKG:02627) saw its stock price skyrocket by 35.01% in intraday trading on Wednesday, following a significant announcement regarding its flagship flu vaccine. The Hong Kong-listed pharmaceutical company revealed that Chinese authorities have placed its quadrivalent subunit influenza vaccine, Huierkangxin, on a preliminary list for possible insurance coverage.

According to a Hong Kong bourse filing, AB&B Bio-Tech's Huierkangxin vaccine has been included in the National Healthcare Security Administration's preliminary list for insurance reimbursement. Notably, it is the only product of its kind to achieve this status, potentially giving the company a significant edge in the Chinese market. This development could lead to increased accessibility and demand for the vaccine, potentially boosting the company's revenue and market share.

Adding to the significance of this news, AB&B Bio-Tech stated that Huierkangxin remains the first and only quadrivalent subunit influenza vaccine to be approved in China as of July 21. This unique position in the market, combined with the possibility of insurance coverage, has evidently sparked investor enthusiasm, driving the stock's dramatic rise. The company's shares had already jumped 13% in Wednesday morning trade before the larger surge, indicating strong market confidence in AB&B Bio-Tech's future prospects based on this development.