BUZZ-China Medical System rises on drug clinical trials approval

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BUZZ-China Medical System rises on drug clinical trials approval

Reuters03-13

** Shares of China Medical System Holdings 0867.HK rise 4% to HK$8.54, their highest since February 27

** Stock set for the biggest one-day rise since February 26; on track for fourth straight session of gains

** The Chinese medicine producer says China's National Medical Products Administration has granted drug clinical trials approval to its Cardiac Myosin Inhibitor CMS-D003, which is a targeted therapy for hypertrophic cardiomyopathy

** Co, with market capitaliation of HK$20.64 bln ($2.66 bln), says CMS-D003 can also be developed for the treatment of heart failure with preserved ejection fraction in the future

** Hong Kong's healthcare index .HSCIH and Hang Seng Index .HSI both slip 0.7%

** Stock up 8.7% YTD

($1 = 7.7713 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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