PegBio's Diabetes Drug Completes First Batch of Prescriptions

MT Newswires Live

07/22

PegBio (HKG:2565) said the first batch of commercial prescriptions of Paidakang has been issued at multiple medical institutions, according to a Wednesday Hong Kong bourse filing.

Ji Linong and Zhou Zhiguang issued the first respective prescriptions at Peking University People's Hospital and Second Xiangya Hospital of Central South University.

Ji and Zhou were the leading experts of a phase III clinical study of Paidakang, which is used for the treatment of type 2 diabetes in adults.

Following the prescriptions, Tenry Pharmaceutical, which had entered into a commercialization collaboration agreement with the company, is due to satisfy a second royalty payment.

Tenry Pharmaceutical has confirmed it will pay around HK$49 million in royalty to the biopharmaceutical company under the contract.

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