Zhi Tong Cai Jing·2025-08-15 07:32Core Viewpoint - Fosun Pharma's stock has seen a significant increase, rising over 6% and currently trading at 21.06 HKD, with a transaction volume of 299 million HKD, following the announcement of a licensing agreement with Expedition for the global development of the drug XH-S004 outside of China and Hong Kong [1] Group 1: Licensing Agreement - Fosun Pharma's subsidiary has signed a licensing agreement with Expedition, granting them rights to develop, produce, and commercialize the investigational product XH-S004 globally, excluding China and Hong Kong [1] - Expedition will pay up to 120 million USD in non-refundable upfront payments and milestone payments based on development and regulatory achievements, as well as up to 525 million USD in sales milestone payments based on annual net sales in the licensed regions [1] Group 2: Market Potential and Clinical Trials - The DPP-1 inhibitor drug market is identified as having significant potential, with Fosun Pharma's XH-S004 currently in Phase II clinical trials for non-cystic fibrosis bronchiectasis and in Phase Ib for chronic obstructive pulmonary disease in China [1] - The company has invested a total of 72 million RMB in research and development for this innovative product, and the licensing agreement is expected to enhance the valuation of its pipeline of innovative drugs [1]