Chinese biopharma stocks jump as U.S. weighs keeping door open to drug deals

Chinese biopharma stocks jumped in Hong Kong on Monday after a report that the U.S. is considering rules that would allow American pharmaceutical companies to continue licensing most drugs from Chinese firms. Innovent Biologics jumped 6%, while Akeso surged 8% and CSPC Pharmaceutical Group gained more than 6%. HUTCHMED climbed 3%, while Sino Biopharmaceutical added 8%. The moves followed a Reuters report Friday, citing people briefed on the process, that the U.S. Treasury Department is drafting rules that would likely allow American pharmaceutical companies to invest in promising new drugs being developed by Chinese firms, excluding those related to pathogens or biotechnology that could be weaponized.