On July 20, CSPC Pharmaceutical Group rose 3.21% in regular trading, trading at HKD 8.47 per share, with turnover of HKD 129 million. The move was driven by the company's first ADC new drug application being accepted by China's NMPA, combined with a broad pharmaceutical sector recovery.

On July 17, CSPC announced that its envertamab injection, a HER2-targeting antibody-drug conjugate (ADC) classified as a Category 1 biologic, had its new drug application accepted by the NMPA. The drug targets unresectable or metastatic HER2-positive adult breast cancer patients who have received prior anti-HER2 therapy. A pivotal Phase III trial demonstrated significantly improved progression-free survival compared to T-DM1, with favorable safety.

The stock also benefited from a string of recent catalysts, including breakthrough therapy designation for its albumin-bound docetaxel and anbenitamab combination in first-line HER2-positive breast cancer, and receipt of a USD 25 million development milestone payment from AstraZeneca. The broader pharmaceutical sector showed strength, with Hansoh Pharma up 2.64%, Hengrui Pharma up 2.91%, and Asymchem up 4.01%.

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