EVEREST MED Shares Surge Nearly 7% After Acquiring Greater China Rights to PSVT Drug

Stock News03-24

EVEREST MED (01952) rose nearly 7% in afternoon trading. At the time of writing, the stock was up 6.7%, trading at HK$34.72, with a turnover of HK$74.85 million. The increase follows the company's announcement of an asset acquisition agreement with Ji Xing Pharmaceuticals. Through this deal, EVEREST MED has secured the rights to develop, commercialize, and localize the production of Etripamil nasal spray in Greater China. Under the terms of the agreement, EVEREST MED will make an upfront payment of US$30 million to Ji Xing Pharmaceuticals, along with additional development milestone payments of up to US$20 million. Etripamil nasal spray received approval from the U.S. Food and Drug Administration in December 2025, becoming the first and only therapy approved in over 30 years for the acute symptomatic episodes of paroxysmal supraventricular tachycardia (PSVT) in adults. In China, the new drug application for the product for PSVT treatment was officially accepted by the National Medical Products Administration in January 2025, with approval expected in the third quarter of 2026.

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