Changes in Hong Kong stocks | Jiahe Bio-B (06998) is now up more than 4%. The proposed merger has completed the proposed merger to change its name to “Yiteng Jiahe” and remove the “B” mark

The Zhitong Finance App learned that Jiahe Bio-B (06998) rose more than 7% in the intraday period. As of press release, it had risen 4.9% to HK$3.21, with a turnover of HK$2.208 million.

According to the news, Jiahe Biotech announced that it has completed the proposed merger and plans to change its name to “Yiteng Jiahe Pharmaceutical Group Co., Ltd.”; the company's English and Chinese stock abbreviations will no longer be marked “B” from December 31. According to reports, on September 13, 2024, Jiahe Biotech and Yiteng Pharmaceutical signed a merger agreement. Yiteng Pharmaceutical plans to reverse acquire Jiahe Biotech through a share exchange. This is the first reverse takeover case of Hong Kong Stock 18A.

Notably, Jiahe Biotech announced at the beginning of this month that Lerosil (GB491) was included in the national medical insurance drug catalogue. The company believes that entering the medical insurance catalogue of GB491 will not only greatly improve patients' accessibility to medication and reduce their financial burden, but also strongly accelerate the commercialization process and market penetration of Lauricillin (GB491), further boosting innovation returns.