HK Stock Market Move | EVEREST MED-B (01952) rose more than 5% and announced that the South Korean Ministry of Food and Drug Safety has fully approved Neufokang.

Everest MED-B (01952) rose by more than 5%, reaching a 5.56% increase to HK$38.95 at the time of publication, with a turnover of HK$79.08 million. On the news front, according to market reports on November 19, Yuandong Xinyao announced that the Korean Ministry of Food and Drug Safety has fully approved the new drug application for NEFECON (budesonide enteric coated capsules) to treat adult patients with primary IgA nephropathy (IgAN) with a daily urinary protein of 1.0g or a urinary protein to creatinine ratio (UPCR) of 0.8g/g. It is reported that NEFECON is the world's first targeted therapy for IgA nephropathy, and the first prescription was issued in China in May this year. NMPA has formally accepted the supplemental application for the complete clinical trial data of the final stage, with the potential to become the first domestically fully approved targeted therapy for IgA nephropathy. Furthermore, it is worth noting that NEFECON participated in the national medical insurance negotiation for the first time this year, with high expectations from the industry. Once it enters the national medical insurance list, it will further clarify the long-term volume expectations for NEFECON.