HK Stock Market Move | China National Pharmaceutical Group (01177) rose nearly 7% during the trading day. TQC3721's overseas equity has been authorized by AstraZeneca for a total of up to $1.9 billion.

China Medical System (01177) rose nearly 7% again, with a cumulative increase of over 20% in the month. At the time of writing, it rose 4.8%, to HK$5.24, with a turnover of HK$6.97 billion. On the news front, China Medical System announced that it will license the overseas rights of its independently developed innovative drug TQC3721 (PDE3/4 inhibitor) for chronic obstructive pulmonary disease (COPD) to AstraZeneca for a total of up to $1.9 billion USD. TQC3721 is the second global and first domestic PDE3/4 inhibitor in clinical development. Under the agreement, China Medical System will grant AstraZeneca exclusive licenses for the development, production, and commercialization of TQC3721 outside of China. AstraZeneca will also receive global (including China) exclusive licenses for specific development programs of TQC3721. China Medical System is entitled to receive an upfront payment of $200 million USD, as well as up to $1.7 billion USD in potential development, regulatory, and sales milestone payments, and will also receive high double-digit tiered royalties.