ApicHope Pharmaceutical (SHE:300723) unit Guangzhou Yipinhong Pharmaceutical obtained drug registration from China's medical products regulator for aminocaproic acid injection.
The drug is used to treat various bleeding caused by hyperfibrinolysis, according to a Friday fling with the Shenzhen bourse.
The approval is valid until May 2031.
Shares of the pharmaceutical company were up 3% Friday.
Hong Kong stocks zigzagged between gains and losses over the past four sessions, but managed to end the tumultuous week in positive territory.The Hang Seng Index rose by 219.51 points, or 0.9%, to end at 25,606.03, while the Hang Seng China Enterprises Index increased by 75.55 points, or 0.9%, to close at 8,550.87.U.S. Secretary of State Marco Rubio said there had been "some good signs" in talks between Washington and Tehran, but both sides remained at odds over Iran's uranium stockpile and controls on the Strait of Hormuz, Reuters reported.Meanwhile, analysts warned that the upcoming global initial public offering of Elon Musk's SpaceX could siphon off funds from the broader Asia-Pacific region, including Hong Kong, in preparation for subscriptions, the South China Morning Post reported.The aerospace company is reportedly seeking $75 billion in what could be the world's largest IPO, topping Saudi Aramco's $29.4 billion offering in 2019.In local development, Hong Kong's consumer inflation held steady at 1.7% year over year in April, unchanged from the previous month.Hong Kong financial markets will be closed on Monday, May 25, for a local holiday and reopen on Tuesday, May 26.In corporate news, Chinese biotech firm TenNor Therapeutics (HKG:6872) had a stellar debut in Hong Kong as its shares closed at HK$211, 179% higher than its IPO price of HK$75.70.
China's drug regulator approved Sailong Pharmaceutical (SHE:002898) subsidiary Hunan Sailong Pharmaceutical's tedizolid phosphate injection, according to a Friday filing with the Shenzhen bourse.The injection is indicated for acute bacterial skin and soft tissue infections.Approval is valid until May 18, 2031.
SPML Infra (NSE:SPMLINFRA, BOM:500402) has secured an order worth 1.65 billion Indian rupees from power transmission utility Rajasthan Rajya Vidyut Prasaran Nigam, according to a Friday filing to the Indian stock exchanges.The contract is for the construction of a 400 kV grid substation, one 500 MVA autotransformer bay, and transmission infrastructure at Dahra in Rajasthan, India.The project will be executed in 24 months.The company's shares were up over 2% in recent trade.