HK Stock Market Move | EVEREST MED-B(01952) rise over 8% now. Nephrocon approved for listing in South Korea for the treatment of primary IgA nephropathy in adult patients.

Everest Med-B (01952) is now up more than 8%, with a gain of 7.54% at HK$37.1 as of press time, with a turnover of HK$1.15 billion. On the news front, on November 19th, Yundingxiuyao announced that the Ministry of Food and Drug Safety (MFDS) of South Korea has formally approved the new drug application for Nifucant (budenoside enteric-coated capsules) for the treatment of adult patients with primary IgA nephropathy (IgAN) with proteinuria 1.0g/day or urine protein to creatinine ratio (UPCR) 0.8g/g. It is reported that Nifucant issued its first prescription in mainland China in May this year, and has subsequently been approved in Macau, Hong Kong, Singapore, and Taiwan. In July this year, the China National Medical Products Administration formally accepted the supplementary application for complete clinical trial data of Nifucant. Nifucant is expected to become the first and only domestically approved drug for the treatment of IgA nephropathy. It is worth noting that Nifucant also participated in the national medical insurance negotiation for the first time this year. Once it enters the medical insurance catalog, it is expected to achieve accelerated sales through price-volume trade-offs.