Chinese authorities granted Hainan Haiyao (SHE:000566) subsidiary Haikou Pharmaceutical Factory supplementary approval for meropenem for injection, according to a Saturday filing with the Shenzhen bourse.
Shares closed 10% higher on Monday.
Meropenem is an antibiotic targeting the cell walls of gram-positive and gram-negative bacteria causing pneumonia, as well as urinary tract, intra-abdomina, gynecological, and skin and soft tissue infections, among others.
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