BUZZ-Henlius soars on deal with India's Dr. Reddy's Labs for myeloma drug

Shanghai Henlius Biotech 2696.HK soars 10.8% to HK$20.50; set for biggest one-day pct gain since June 25, 2024

Stock hits highest since January 14; on course for fifth straight session of gains

Biopharmaceuticals products maker grants India-based Dr. Reddy's Laboratories SA REDY.NS license to develop, manufacture and commercialise HLX15 in the U.S. and 42 European countries, including the UK and Switzerland, as it deepens overseas expansion

Says Dr. Reddy's will pay $33 mln upfront and milestone payments of up to $98.6 mln in total and royalties of up to 8% of annual net sales

HLX15 is used to treat multiple myeloma

REDY up 0.1%; set for fourth straight session of gains

Shanghai Henlius's stock soared 70.5% last year