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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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GSK Acquires Lupus Drug from Chinese Biotech Chimagen in Deal Worth Up to US$850 Million

GSK plc has announced the acquisition of an experimental lupus drug from Chinese biotech company Chimagen Biosciences in a deal worth up to US$850 million (RM3.7 billion). This agreement enhances GSK's immunology pipeline, adding to its existing lupus treatment portfolio.

As part of the deal, GSK will pay US$300 million upfront, with Chimagen eligible for US$550 million in success-based milestone payments. While the drug is currently in early clinical trials for leukemia and lymphoma, GSK plans to begin clinical trials for lupus in 2025.

The British drugmaker already markets Benlysta, a blockbuster treatment for systemic lupus erythematosus and lupus nephritis, and is optimistic about the potential of the acquired drug to further address these autoimmune diseases.

Pharmaceutical companies are increasingly turning to China for innovative medicines. GSK recently secured a multi-billion-dollar deal for its shingles vaccine in China and signed a licensing agreement with Hansoh Pharma for an antibody-drug conjugate.

This latest move underscores GSK's strategic focus on expanding its offerings in immunology and autoimmune disease treatments.

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