Changes in Hong Kong stocks | Nuochengjianhua (09969) dived again after rising and is now down more than 10%, Nuochengjianhua and Lilly reached a US$3.35 billion cooperation

The Zhitong Finance App learned that Nuocheng Jianhua (09969) issued a major cooperation announcement in the afternoon, and the decline narrowed rapidly to less than 1% at the opening of the afternoon, but then the decline increased by more than 10% by more than 10%. As of press release, it decreased by 10.35% to HK$14.12, with a turnover of HK$272 million.

According to the news, on September 24, Nuochengjianhua announced the signing of an R&D cooperation and licensing agreement with Eli Lilly. The two sides will carry out strategic cooperation in the field of innovative drug research and development. Relying on a proprietary drug discovery platform and deep research experience, Nuochengjianhua will discover and develop up to 5 innovative target projects to address major unmet clinical needs.

According to the terms of the agreement, Eli Lilly will pay Novartis a down payment of up to $100 million and recent milestone payments. The total amount of potential R&D and commercialization milestone payments is approximately US$3.25 billion. Additionally, Nochengjianhua has the right to charge a single-digit percentage of the annual net sales of the licensed product.