Pharmaron Beijing Shares Jump After Eli Lilly Pledges $200 Million Investment in Partnership
Shares of Pharmaron Beijing surged over 13% after announcing a partnership with Eli Lilly, which includes a $200 million investment to manufacture a diabetes and weight-loss drug, orforglipron. The stock closed 8.4% higher, marking its largest single-day rise since September. Eli Lilly aims to gain regulatory approval for the drug in over 40 countries, with the partnership seen as a significant milestone for Pharmaron's business. Eli Lilly is also expanding its supply chain capacity in China, with nearly $6 billion in investments in the country.
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