Chinese Drugmaker Huahai Rises After Signing USD340 Million Deal With Spain’s Almirall
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Huahai Pharmaceutical's shares rose 2.3% to CNY16.18 after announcing a USD340 million licensing deal with Spain's Almirall for a new monoclonal antibody targeting skin diseases. The agreement includes upfront and milestone payments, with royalties on sales. Huahai retains rights in China while Almirall holds rights outside the country. This deal reflects the growing trend of cross-border collaborations among Chinese drugmakers, with outbound licensing deals for innovative drugs reaching USD60 billion in Q1.
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