Sino Biopharm jumps most in 7 weeks on marketing nod for sugar control injection

Sino Biopharmaceutical

26/06/2024 07:47

** Shares of Sino Biopharmaceutical  1177.HK  jump 5.3% to
HK$2.78, on course for biggest one-day pct rise since May 9, if
trend holds
    ** Stock touches the highest since June 20, extending gains
to a third session; second biggest pct gainer on Hang Seng Index
 .HSI  and healthcare index  .HSCIH  
    ** Co says its Liraglutide Injection, or Beilelin, has
obtained approval for marketing from the National Medical
Products Administration of China for blood sugar control in
adult patients with type 2 diabetes 
    ** Co also says it is developing semaglutide, which is
currently in clinical phase III, for treating diabetes and
obesity
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.5%, the healthcare index rises 1.1% and the Hang Seng Index
adds 0.4%
    ** Stock down 19.9% YTD  

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))