CSPC Pharma (01093) rose by 5.51% in early trading to HK$7.09, with a turnover of 0.585 billion Hong Kong dollars.

CSPC Pharma announced that it has entered into an exclusive licensing agreement with Astrazeneca to develop, manufacture, and commercialize the group's Lipoprotein(a) inhibitor YS2302018 globally, as well as any pharmaceuticals or biological products developed subsequently containing or consisting of this compound. CSPC Pharma is expected to receive an upfront payment of $0.1 billion. In addition, CSPC Pharma will also be eligible to receive up to $1.92 billion in development and commercialization milestone payments, as well as tiered royalties.