PEGBIO CO-B (02565) surged more than 5%, reaching HK$63.8 by the time of writing, with a trading volume of HK$29.26 million. The company recently announced that China's National Medical Products Administration (NMPA) has approved the new drug application for its core product, PB-119.

PB-119, branded as Paitakang®, is a next-generation long-acting glucagon-like peptide-1 (GLP-1) receptor agonist developed by the company, requiring only once-weekly administration. The product has been recognized as a national Class 1 innovative drug under China's "Major New Drug Innovation" initiative.

In October, PEGBIO CO-B entered a strategic partnership with UAE-based pharmaceutical research leader PDC FZ-LLC ("PDC"), granting exclusive rights for the development, distribution, marketing, and commercialization of its core product, Visepegenatide (PB-119), in the Middle East and Africa. This collaboration marks a critical milestone in the company's global commercialization strategy.