SIMCERE PHARMA (HKEX: 02096) shares experienced a notable uptick in afternoon trading, climbing more than 3%. At the time of writing, the stock was up 3.03% to HK$9.87, with a trading turnover of approximately HK$40.1 million.

The price movement follows a recent corporate announcement. The company has entered into an exclusive promotion service agreement with Beijing Puqi Pharmaceutical Technology Co., Ltd. for Pumixitinib Gel.

Under the terms of this new agreement, SIMCERE PHARMA will secure exclusive promotion rights for Pumixitinib Gel across all dermatological indications within mainland China, Hong Kong, and Macau. The topical treatment's New Drug Application for the treatment of atopic dermatitis in adults and adolescents has already been accepted for review by the Center for Drug Evaluation of China's National Medical Products Administration.

Analysts suggest this strategic collaboration is expected to significantly bolster the company's product portfolio and market position within the autoimmune disease therapeutic area.