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BUZZ-China's CStone Pharma set for best day in over 7 weeks on new drug application

reuters.com · 09/02/2021 03:07
BUZZ-China's CStone Pharma set for best day in over 7 weeks on new drug application

** Shares of immuno-oncology drugs developer CStone Pharmaceuticals CSPHF jump 9.3% to HK$13.90, the biggest daily percentage gain since July 12

** Stock on track to snap two consecutive sessions of decline

** Shanghai-based company says National Medical Products Administration of China has accepted its new drug application (NDA) for sugemalimab as a consolidation therapy in patients with unresectable stage III cell lung cancer, its eighth NDA/supplemental NDA submitted by CStone (https://bit.ly/3gX1b1D)

** Says CStone has formed a strategic partnership with Pfizer PFE that includes development and commercialization of sugemalimab in mainland China and a framework to bring additional oncology assets to the Greater China market

** Hong Kong's healthcare index .HSCIH falls 1.2%

** The Hang Seng China Enterprises Index .HSCE gains 0.7% and the benchmark index .HSI is up 0.1%

** As of last close, the stock had surged 26.2% this year


(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))