Federal Pharmaceutical (03933) saw its shares rise more than 3% during intraday trading. At the time of writing, the stock was up 2.44%, trading at HK$10.09, with a turnover of HK$39.2058 million.
On May 7, Federal Pharmaceutical announced that UBT38006 injection, a Class 1 innovative drug independently developed by its wholly-owned subsidiary, Federal Biotech (Zhuhai Hengqin) Co., Ltd., has received implicit clinical trial approval from the China National Medical Products Administration. This approval marks another significant innovation achievement for the company in the field of diabetes treatment.
UBT38006 injection is a novel long-acting insulin weekly formulation with a unique molecular structure. The drug exerts its glucose-lowering pharmacological effects by specifically binding to the human insulin receptor. Compared to existing insulin products, the most notable advantage of UBT38006 lies in its unique molecular design, which enables reversible binding to human albumin, significantly extending the drug's half-life. Based on preclinical animal data, it is estimated that a once-weekly dosing regimen could be achieved in humans. The development of UBT38006 is expected to greatly enhance medication adherence for diabetes patients, reduce the treatment burden associated with frequent injections, and improve patients' quality of life.
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