HK Stock Market Move | SHANDONG XINHUA (00719) has risen by nearly 6%, and its wholly-owned subsidiary has been granted a registration certificate for non-valsartan drugs.

SHANDONG XINHUA (00719) is currently up nearly 6%, rising to 6.25% at the time of writing, reaching 6.46 Hong Kong dollars, with a turnover of 23.02 million Hong Kong dollars. On the news front, SHANDONG XINHUA announced that its wholly-owned subsidiary Shandong Zibo Xinda Pharmaceutical Co., Ltd. recently received approval from the National Medical Products Administration for the issuance of a Drug Registration Certificate for its Nifurstat Tablets, approving the application for the drug to be marketed. Nifurstat Tablet is a category B variety in the "National Basic Medical Insurance, Work-related Injury Insurance, and Maternity Insurance Drug Catalog (2023)" in China. According to relevant data, the sales of Nifurstat Tablets in public medical institutions in China in 2023 are approximately 770 million RMB. In addition, Shandong Xinhua Pharmaceutical recently announced that the company has received a Drug Supplementary Application Approval Notice for Calcium Gluconate Injection issued by the National Medical Products Administration. This product has passed the generic drug quality and efficacy consistency evaluation; the Cefuroxime Axetil Dispersible Tablets of its wholly-owned subsidiary Shandong Zibo Xinda Pharmaceutical Co., Ltd. have also passed the generic drug quality and efficacy consistency evaluation.