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Sino Biopharmaceutical ( (HK:1177) ) has shared an announcement.
Sino Biopharmaceutical Limited announced that its subsidiary, LaNova Medicines, is progressing smoothly with its out-licensing collaboration with Merck & Co., Inc. for the LM-299/MK-2010 PD-1/VEGF Bispecific Antibody. The company is set to receive a US$300 million milestone payment following the successful technology transfer. This collaboration, which grants Merck exclusive global rights for LM-299, includes an upfront payment of US$588 million and potential milestone payments up to US$2.7 billion, highlighting Sino Biopharmaceutical’s strategic positioning in the global pharmaceutical market.
The most recent analyst rating on (HK:1177) stock is a Buy with a HK$6.19 price target. To see the full list of analyst forecasts on Sino Biopharmaceutical stock, see the HK:1177 Stock Forecast page.
More about Sino Biopharmaceutical
Sino Biopharmaceutical Limited operates in the pharmaceutical industry, focusing on the development, manufacturing, and commercialization of a wide range of biopharmaceutical products. The company is known for its innovative approaches in drug development and has a significant market presence in Asia.
Average Trading Volume: 162,244,039
Technical Sentiment Signal: Buy
Current Market Cap: HK$129.7B
For an in-depth examination of 1177 stock, go to TipRanks’ Overview page.