PEGBIO CO-B (02565) Surges 150% in Late Trading Following Exclusive Commercial Deal for Padakine in Mainland China

Stock News

May 18

PEGBIO CO-B (02565) experienced a sharp rise of 150% during late trading. At the time of reporting, the stock was up 106.97%, trading at HK$23.16 with a turnover of HK$784 million. The surge follows the company's announcement in March of a strategic commercialization agreement with Tengrui Pharmaceutical for Padakine in mainland China. The core commercial objective outlined in the agreement is to achieve cumulative sales exceeding RMB 10 billion. Under the terms, Tengrui Pharmaceutical will pay PEGBIO CO-B a total of approximately HK$140 million in royalty fees. Notably, on May 12th, Ark Health and Tengrui Pharmaceutical held a strategic cooperation signing ceremony. Following this agreement, the highly anticipated innovative GLP-1 drug Padakine (Vipeptide Injection) is set for a full-scale launch on the Ark Health Internet Hospital platform in the near term.

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