Core Insights - CloudTop New Horizon (1952.HK) announced strategic cooperation agreements with Haisen Biopharmaceuticals, including a commercialization service agreement and a licensing agreement [1][2] Group 1: Commercialization Service Agreement - CloudTop New Horizon's subsidiary will provide commercialization services for six mature products from Haisen Biopharmaceuticals, including Ceftriaxone, Somatostatin, Urapidil, Azilsartan, Candesartan, and Voglibose [1] - The service fee will range from 20% to 55% of the quarterly net sales of the relevant products, with annual payment caps of 560 million, 616 million, and 677 million yuan for the years 2026 to 2028 [1] Group 2: Licensing Agreement - The licensing agreement grants CloudTop New Horizon exclusive rights to conduct further clinical development, registration, and commercialization of Lerodalcibep in Greater China [2] - Lerodalcibep is a third-generation PCSK9 inhibitor aimed at lowering LDL-C levels in patients with high cholesterol, with a significant unmet medical need in China [2] - The product is expected to submit a biopharmaceutical application in Greater China in the first half of 2026, with potential approval and market launch by 2027 [2]