Following revenue acceleration from Nefecon, Everest Med is now extending its commercial reach into the field of presbyopia.

On June 8th, Everest Med announced an asset purchase agreement with Ji Xing Pharmaceuticals, securing the development, production, and commercialization rights for the presbyopia eye drop LNZ100 in Mainland China, Hong Kong, Macao, and Taiwan. The transaction amount was not disclosed. According to the agreement, Everest Med will make an upfront payment and development milestone payments to Ji Xing and will assume the relevant rights and obligations under Ji Xing's prior license agreement.

This is not an asset still lingering in early-stage development. LNZ100 is a once-daily aceclidine eye drop that improves near vision by constricting the pupil, primarily targeting presbyopia patients. The product received U.S. FDA approval in July 2025, and its New Drug Application in China was submitted in September 2025. It is currently under regulatory review, with the partner expecting approval in the first quarter of 2027.

What Everest Med is taking over is a product that has already completed its key clinical trials in China, with only the regulatory review stage remaining before commercialization.

Previously announced results from the Chinese Phase III clinical trial showed that the study enrolled 300 subjects. Three hours after administration, 74% of subjects achieved an improvement of three lines or more in near vision while maintaining best-corrected distance vision, defined as a loss of no more than five letters. No treatment-related serious adverse events were identified in the trial.

Unlike essential treatments for conditions like cancer or kidney disease, presbyopia patients have alternative options such as reading glasses, contact lenses, and surgery. Once LNZ100 enters the Chinese market, it will face challenges not only related to clinical efficacy but also patient acceptance of long-term, out-of-pocket use of a prescription eye drop.

This transaction continues Everest Med's recent intensive pace of introducing mid-to-late-stage products. In December 2025, the company outlined a five-year strategic plan proposing the introduction of three to five mid-to-late-stage products annually. Over the past six months, Everest Med has successively introduced assets in cardiovascular, renal, and ophthalmic fields.

LNZ100 is also the second near-commercial product Everest Med has taken over from Ji Xing Pharmaceuticals. In March of this year, the company acquired the Greater China rights for etripamil nasal spray, a treatment for paroxysmal supraventricular tachycardia. Compared to building a research pipeline from scratch, directly acquiring assets that have completed key clinical trials and are close to filing or approval can be loaded into the existing commercial platform more quickly.

Everest Med is attempting to replicate the market access and sales capabilities established with Nefecon across more products. In 2025, the company generated revenue of RMB 1.707 billion, a year-on-year increase of 142%, with a non-IFRS profit of RMB 187 million. Nefecon sales exceeded RMB 1.4 billion, growing over 300% year-on-year and contributing to more than eighty percent of the company's total revenue.

Nefecon has demonstrated Everest Med's ability to introduce overseas-developed products into the reimbursement system, hospitals, and to patients, providing both cash and confidence for the company to continue acquiring products. However, this also means Everest Med now needs to prove that this capability is not limited to the renal disease field.

In October 2025, Wu Yifang, who had long served as Chairman and CEO of Fosun Pharma, assumed the role of Chairman of the Board at Everest Med (ASX: 01952). Subsequently, the company further clarified its dual-drive strategy of "BD collaboration plus self-development" and has continuously introduced multiple assets nearing the commercialization stage. Currently, ophthalmology has joined cardiovascular, renal & metabolic, autoimmune, and acute & critical care as the company's key therapeutic areas.

From Nefecon to LNZ100, what Everest Med is purchasing is not just drug rights, but also a shorter path to market. The transaction price remains undisclosed, and the product is still not approved in China. As the product portfolio expands rapidly, demonstrating how a single commercial system can effectively sell renal drugs, cardiovascular drugs, and presbyopia eye drops simultaneously has become the report card the company must deliver in its next phase.