(Yicai) April 13 -- Shares of Haisco Pharmaceutical Group rose after the Chinese drugmaker granted US peer AbbVie the global rights outside of China to two treatments targeting chronic obstructive pulmonary disease, a persistent inflammatory lung condition that makes it difficult to breathe, in a deal worth up to USD745 million.

Haisco [SHE: 002653] jumped 2.9 percent to CNY57.77 (USD8.46) a share as of 10.35 a.m. in Shenzhen today.

AbbVie will receive the rights to develop, produce, and commercialize HSK55718 and HSK51155, two Nav1.8 inhibitors that reduce pain signal transmission at the source and are intended for the development of pain-related indications, Haisco announced yesterday.

Under the deal, AbbVie will make a USD30 million upfront payment and up to USD715 million in milestone payments, Haisco said, adding that the Illinois-based firm will also cover certain research and development costs to support the drugs' development up to the proof-of-concept phase.

Nav1.8 is a key target for the development of non-opioid analgesics. HSK55718 is being developed as an intravenous therapy and is in Phase I clinical trials in China, while HSK51155 is being developed as an oral formulation and is in the preclinical stage.

The deal is an important step for Haisco in deepening its global layout and accelerating the commercialization of its innovative achievements. In addition, it will likely have a positive impact on the company's future performance and enhance its profitability.

In a separate announcement on the same day, Haisco said it expects net profit to have surged 923 percent to 1,095 percent to between CNY477 million and CNY557 million last quarter from a year earlier, mainly driven by proceeds from an exclusive COPD drug licensing deal signed with US' AirNexis Therapeutics in January. Based on non-generally accepted accounting principles, the net profit soared 792 percent to 951 percent to between CNY449 million and CNY529 million.

Last year, Haisco's net profit jumped 34 percent to CNY260 million from the previous year, while revenue rose 18 percent to CNY4.4 billion (USD644.4 million), it added.

Haisco is a specialized pharmaceutical enterprise based in Shannan, Xizang Autonomous Region, that integrates new drug R&D, manufacturing, and commercialization. It has R&D centers and production bases in Chengdu, Sichuan province.

AbbVie, which spun off from Abbott in 2013, is a research-driven biopharmaceutical company.

Editor: Martin Kadiev