China's medical products administrator approved the marketing application for the memantine hydrochloride chemical raw material made by Shijiazhuang Yiling Pharmaceutical (SHE:002603) subsidiary Wanyang Hengshui Pharmaceutical.
The drug treats moderate to severe dementia from Alzheimer's disease by blocking neuron damage due to high glutamate levels, according to a Thursday filing with the Shenzhen bourse.
Shares closed 2% higher on Thursday.
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