China's medical products administrator granted full approval to Everest Medicines' (HKG:1952) delayed-release corticosteroid budesonide for primary immunoglobulin A nephropathy, according to a Wednesday filing with the Hong Kong bourse.

The drug, branded Nefecon, is indicated for adults at risk for kidney malfunction progression regardless of proteinuria or protein content in urine, the filing said.

Nefecon showed a reduction in urine protein-creatinine ratio, while kidney function decline slowed by 66% among Chinese phase 3 trial participants, the filing said.