On September 30, SBP GROUP rose 3.33% in regular trading, trading at HK$5.74 per share, with turnover of approximately HK$99.09 million. The stock extended gains for a second consecutive session following the announcement of a strategic biosimilar partnership with German pharmaceutical company STADA.

According to the company's announcement, subsidiary Chia Tai Tianqing has granted STADA an exclusive license to commercialize pembrolizumab biosimilar TQB3570 in the EU, Switzerland, the UK, and the Commonwealth of Independent States. Chia Tai Tianqing will receive an upfront payment and is eligible for development, regulatory, and sales milestone payments of up to EUR 53 million, along with a double-digit profit share. The two parties also retain options to expand the partnership to include up to three additional biosimilar molecules in oncology and immunology.

Management disclosed that cumulative upfront and near-term milestone payments from licensing transactions this year have reached USD 355 million, with potential total deal value of USD 3.4 billion. Citi maintained a Buy rating following the deal, while Goldman Sachs recently raised its target price to HK$9.07, reaffirming a Buy rating, citing improved earnings visibility from reduced minority interests and rising business development contributions.

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