Shandong Xinhua Pharmaceutical (HKG:0719, SHE:000756) obtained approval from China's National Medical Products Administration to become the marketing license holder of epalrestat tablets, according to a Hong Kong Stock Exchange disclosure on May 9.
The pharmaceutical company obtained the rights to the drug from Jiangsu Dongke Kangde Pharmaceutical in August 2023.
The drug is indicated for use in connection with diabetic neuropathy, the disclosure said.
Xinhua Pharma's Hong Kong shares closed less than 2% higher.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.