Hengrui Soars as GSK Invests in Chinese Drugmaker’s Pipeline

Jiangsu Hengrui Pharmaceuticals Co. shares rallied to their highest level in four years after GSK Plc agreed to pay $500 million upfront for a potential treatment for chronic lung disease and lined up options to license other drugs in the Chinese company’s pipeline.

The firm’s Shanghai-listed stock rose as much as 10% on Monday to its highest level since July 2021, while its Hong Kong-listed shares soared as much as 19% to a record. Shares of GSK rose as much as 1.9% in London.