Jiangsu Hengrui Pharmaceuticals rises as Merck signs licensing deal up to $2 billion

Shares of Chinese drug developer and producer Jiangsu Hengrui Pharmaceuticals 600276.SS rise 4.6% to 46.94 yuan, their biggest intraday pct gain since November 20, 2024

Stock hits its highest level since March 20, and set for a second session of gains, if current trend holds

Merck MRK.N has signed a licensing agreement for a heart disease drug with Jiangsu Hengrui Pharmaceuticals worth up to $2 billion, the latest in a series of deals U.S. drugmakers have recently signed with China-based firms

The blue-chip CSI 300 Index .CSI300 slips 0.1% while the Shanghai Composite Index .SSEC adds 0.1%

Shares of Shanghai-listed Jiangsu Hengrui up 0.7%, YTD