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Gan & Lee Raises $360 Million in Shanghai IPO; Trades up 44%

publication date: Jun 29, 2020

Gan & Lee Pharma completed a Shanghai IPO that raised $360 million for the company, which specializes in insulin treatments. In initial trading, the stock was halted after it moved up to the Shanghai Exchange's 44% daily limit, a market capitalization of over $5 billion. The Beijing company's products consist of recombinant insulin analogues (third-generation insulin) and APIs that it markets in China and in foreign countries. The company's founder, Dr. Zhongru Gan, said Gan & Lee plans to develop R&D for oncology drugs, eukaryotic and prokaryotic protein engineering, and products for cardiovascular and metabolic diseases. More details....

Stock Symbol: (SHA: 603087)

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