Ardelyx rises as China approves kidney disease drug

Ardelyx

26/02/2025 12:46

** Shares of drugmaker Ardelyx ARDX.O up 4.4% at $5.41 premarket

** ARDX says Chinese health regulator approved its drug, tenapanor, which helps control phosphate levels in dialysis patients with chronic kidney disease who don't respond well to other treatments

** Approval triggers a $5 million payment to ARDX from its Chinese partner, Shanghai Fosun Pharma 600196.SS

** ARDX is eligible for up to $100 million in further milestones and royalties from Fosun Pharma on net sales

** Fosun Pharma will market tenapanor in China, Hong Kong and Macau under the brand name Wan Ti Le

** The drug was approved by U.S. FDA in 2023 under the brand name Xphozah

** ARDX fell 16.2% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)

 ((Kamal.Choudhury@thomsonreuters.com;))