HK Stock Market Move | PEGBIO CO-B(02565) opened nearly 15% higher. The core product PB-119's new drug market application has been approved.

PEGBIO CO-B(02565) opened nearly 15% higher, rising 14.94% at the time of writing to HKD 72.7, with a turnover of HKD 1.1269 million. In terms of news, on November 14th, PEGBIO CO-B announced that the China National Medical Products Administration (NMPA) has approved the company's core product PB-119 for a new drug marketing application (NDA). Paidacon (PB-119) is a new generation long-acting glucagon-like peptide-1 (GLP-1) receptor agonist developed by the company, administered once weekly. The product is regarded by the National Science and Technology Major Project as a "major new drug creation" and is a domestically originated Class 1 new drug. According to Phase I to Phase III clinical studies, PB-119 has achieved the optimal balance between effective blood sugar control and good tolerance, providing Chinese type 2 diabetes patients with an effective and safe treatment option. PB-119 can significantly improve cell function, in addition to blood sugar, it also comprehensively manages patients' blood pressure, blood lipids, and weight, achieving "comprehensive benefits from the management of the four highs."