(Yicai Global) July 29 -- The European Commission has approved Zercepac, a drug developed and manufactured by Henlius Biotech for the treatment of breast and stomach cancers.

Its partner, British pharmaceutical firm Accord Healthcare, will take charge of the drug’s commercialization in EU member states as well as the European Economic Area, which includes Iceland, Liechtenstein and Norway, the statement said.

Sales of similar drugs in these countries were worth USD1.37 billion last year, it added, citing Iqvia Midas data.

Henlius was formed in 2010 as a biomedical unit under Shanghai Fosun Pharmaceutical. It went public in Hong Kong last September.

Shares of Henlius [HKG: 2696] jumped 4.8 percent today to close at HKD58 (USD7.48). The benchmark Hang Seng Index rose almost 0.5 percent. The stock is up 42 percent so far this year.

Editor: Peter Thomas