Huadong Medicine Ends Research on Weight Loss Drug; Shares Jump 5%

MT Newswires Live08-16

Huadong Medicine (SHE:000963), through unit Hangzhou Sino-US Huadong Pharmaceutical, agreed with US biopharmaceutical firm vTv Therapeutics to end the research and development of weight loss drug TTP273, according to a Friday disclosure on the Shenzhen Stock Exchange.

The Chinese pharmaceutical company decided to focus its resources on the research and development of its self-developed drug, HDM1002, after data showed that it was more effective than TTP273 regarding weight loss.

TTP273 was in phase II clinical trials when it was called off.

The Chinese pharmaceutical company obtained the exclusive license for TTP273 in December 2017.

Huadong Medicine's shares jumped more than 5% in recent trade.

Price (RMB): Â¥28.33, Change: Â¥+0.56, Percent Change: +2.02%

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