Hengrui Pharma(SH:600276) Ge Long Hui·2025-09-05 07:49Group 1 - The core point of the article highlights that 恒瑞医药 (Hengrui Medicine) has entered into an agreement with Braveheart Bio for the licensing of its innovative drug HRS-1893, which includes a total payment of $75 million, consisting of an upfront payment of $65 million and a milestone payment of $10 million after technology transfer [1] - Following the announcement, 恒瑞医药's stock price increased by 4.18% to HKD 84.75, with a trading volume of HKD 400 million, and its latest H-share market capitalization reached HKD 562.5 billion [1] - The A-shares of 恒瑞医药 also saw a rise of 5.56%, closing at CNY 72.47, marking the highest closing price since April 14, 2021 [1] Group 2 - 恒瑞医药 is eligible to receive additional milestone payments related to clinical development and sales, which could total up to $1.013 billion [1] - Braveheart Bio will also pay 恒瑞医药 a sales commission based on the sales performance of the licensed drug [1]