Hengrui Pharma Gets China Clinical Trial Nod for Osteoarthritis Injection; Shares Fall 4%

MT Newswires Live10:39

Jiangsu Hengrui Pharmaceuticals (SHA:600276, HKG:1276) received Phase 3 clinical trial approval from China's National Medical Products Administration for its HRS9531 injection, according to a Friday filing with the Shanghai bourse.

Hengrui will initiate trials for the drug in obese adult patients with knee osteoarthritis.

The HRS9531 injection targets the gastric inhibitory peptide receptor and glucagon-like peptide-1 receptor. It has been previously tested on type 2 diabetes, obesity with heart failure, sleep apnea, and polycystic ovary syndrome.

The company's cumulative investment in the drug reached 700.8 million yuan.

Shares fell 4% in Hong Kong and Shanghai during morning trading on Friday.

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