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Sino Biopharmaceutical jumps after cancer drug deal with Boehringer

By Reuters News13 hours ago Updated

** Shares of Sino Biopharmaceutical 1177.HK jump 7.8% to HK$5.55, their highest level since October 21, and on course for fourth straight session of gains

** Stock set for the biggest one-day pct rise since September 21

** Top pct gainer in Hang Seng Biotech Index .HSBIO, which rises 3.8%

** Sino Biopharmaceutical said it had entered into an option and license agreement with Germany's Boehringer Ingelheim for six preclinical oncology programs that could generate $7 billion in milestone payments

** YTD, stock down 10.5%, benchmark Hang Seng Index .HSI down 4.2%

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