HK Stock Market Move | EVEREST MED (01952) rose more than 4% in the afternoon. The company has entered into a commercialization service agreement and authorization license agreement with Haisen Biotechnology.

Everest MED (01952) rose more than 4% in the afternoon, rising 4.65% to 45.8 Hong Kong dollars with a trading volume of 172 million Hong Kong dollars. On the news front, Everest MED announced that its wholly-owned subsidiary, Everest MED Pharmaceutical Technology Co., Ltd., has signed two strategic cooperation agreements with Haisen Biopharmaceutical Co., Ltd. According to the commercialization service agreement, Everest MED Pharmaceutical Technology will provide commercialization services for six mature products under Haisen Biopharmaceutical, covering critical illnesses, cardiovascular, and metabolic areas, leveraging Everest MED's existing commercialization platform advantages and layout. The licensing agreement shows that Everest MED Pharmaceutical Technology has obtained the exclusive license to conduct the subsequent clinical development, registration, and commercialization of Lerodalcibep in the Greater China region, further enriching its late-stage pipeline layout. According to the licensing agreement, Everest MED Pharmaceutical Technology will pay an initial payment of approximately 205 million yuan, potential development and regulatory milestone payments of up to 212 million yuan, and potential sales milestone payments of up to 1.977 billion yuan; as well as potential royalty fees based on net sales.