NewTimeSpace News : Hong Kong Pharma Continues Rally on Innovent’s $8.85 Billion BD Deal; CSOP Hang Seng Biotech ETF (03174.HK) Surges Over 3.5% Intraday

Hong Kong pharmaceutical stocks remained active, as the market continued to digest the implications of Innovent Biologics' blockbuster business development deal. Innovent’s shares soared, dragging Zai Lab, CSPC Pharmaceutical, and RemeGen significantly higher in sympathy. As of February 10, CSOP Hang Seng Biotech ETF (03174.HK) jumped more than 3.5% during intraday trading.

The CSOP Hang Seng Biotech ETF (03174.HK), issued by CSOP Asset Management Limited and listed on the Hong Kong Stock Exchange, tracks the Hang Seng Biotechnology Index. This ETF offers concentrated exposure to Hong Kong-listed biotechnology leaders, featuring high volatility and high beta, suitable for investors with constructive views on innovative drugs, CXO, vaccines, gene therapy and related sectors.

Industry Catalyst: Another Blockbuster BD Unveiled

On the evening of February 8, Innovent Biologics announced a strategic collaboration with Eli Lilly to jointly advance the global development of innovative therapeutics in oncology and immunology. Under the agreement, Innovent will receive a $350 million upfront payment and is eligible to receive up to approximately $8.5 billion in additional milestone payments contingent upon achieving specified R&D, regulatory and commercial targets. Furthermore, Innovent is entitled to tiered royalties on net sales of licensed products outside Greater China.

Record-Breaking Licensing Momentum

Data indicates that total transaction value for Chinese innovative drug License-out deals hit a record $135.7 billion in 2025. The momentum has carried into 2026, with major partnerships announced shortly after the New Year. Beyond Innovent’s Lilly deal, January witnessed two other mega-BDs: CSPC Pharmaceutical’s $18.5 billion collaboration with AstraZeneca and RemeGen’s $5.6 billion partnership with AbbVie, collectively underscoring the escalating global recognition of China’s innovative drug pipelines.

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