HK Stock Market Move | At the close, PEGBIO CO-B (02565) rose more than 12%, and its core product, the peptide injection Weipenapeptide, was approved for listing.

PEGBIO CO-B (02565) rose by more than 12% at the close of trading, rising by 12.59% as of the time of this report, reaching 63.5 Hong Kong dollars, with a transaction value of 282.11 million Hong Kong dollars. On the news front, the weekly preparation GLP-1RA semaglutide (Ozempic) independently developed by PegBio has officially been approved by the Chinese National Medical Products Administration for the treatment of type 2 diabetes (T2DM). According to Frost & Sullivan data, the global T2DM drug market is expected to grow at a compound annual growth rate of around 29.3% from 2018 to 2023. The market share of GLP-1 receptor agonists is expected to increase significantly, from around 8.4% in 2018 to around 29.3% in 2023. Due to its higher compliance, long-acting GLP-1 receptor agonists are expected to hold over 80% of the Chinese GLP-1 receptor agonist market by 2032.