Hong Kong-listed Hansoh Pharmaceutical Group announced a collaboration agreement with Swiss healthcare company F. Hoffmann-La Roche, potentially worth over $15 billion in development, regulatory approval, and commercialisation milestones, plus tiered royalties. Hansoh will receive an upfront payment of $400 million and a $110 million first-anniversary payment. This deal, covering antibody-drug conjugate programmes, is the second cooperation between the two companies. Separately, China's innovative drug out-licensing deals reached approximately $130 billion by the end of September this year, nearly matching the full-year level of 2025, according to the National Development and Reform Commission. Hansoh's shares surged 8.32% on Tuesday following the announcement, and the broader innovative drug sector in China's A-share market also saw active trading.