Core Viewpoint - Heng Rui Medicine (01276) experienced a significant stock price increase, with a rise of over 4% at the close, and a current price of HKD 87.95, with a trading volume of HKD 217 million [1] Group 1: Clinical Trials and Approvals - Heng Rui Medicine announced the approval to conduct clinical trials for SHR-7787 injection, SHR-4849 injection, Bevacizumab injection, and Atezolizumab injection [1] Group 2: Licensing Agreement - The company granted Glenmark, an Indian pharmaceutical company, exclusive rights to develop and commercialize its HER2 antibody-drug conjugate, Trastuzumab deruxtecan, in global non-core markets, receiving an upfront payment of USD 18 million and potential milestone payments exceeding USD 1 billion [1] Group 3: Market Rights and Financial Impact - Nomura's report indicates that Heng Rui retains development and commercialization rights for Trastuzumab deruxtecan in major pharmaceutical markets including Greater China, the US, Canada, Europe, and Japan, suggesting that the upfront payment will have a minimal financial impact, but the overall milestone payment scale could be substantial [1] - The collaboration with Glenmark is expected to help unlock the commercial potential of the product, and retaining rights in key markets provides opportunities for larger-scale partnerships in the future [1]