HK Movers | HK's Pharma Shares Soar. Hengrui Pharma Surges 29%; Asymchem up 7%; CSPC Pharma up 4%
Hong Kong’s pharma stocks rose on Friday.
Hengrui Pharma surged 29%; Asymchem rose 7%; CSPC Pharma rose 4%; Hutchmed, Innovent Bio, Laekna rose 3%; CanSinoBIO rose 2%.
Hengrui, which is based in eastern China’s Jiangsu province, began operations in 1970 as state-owned Lianyungang Pharmaceutical Factory. It listed in Shanghai in 2000.
Over the years, it has shifted focus to developing novel drugs from making generic medicines. It has spent 44 billion yuan (US$6.05 billion) on R&D since 2000, according to its website, the highest tally on the mainland.
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