China's National Medical Products Administration accepted the marketing application of Jiangsu Hengrui Pharmaceuticals' (SHA:600276, HKG:1276) unit, Fujian Shengdi Pharmaceutical, for repaglinide, according to a Thursday disclosure on the Shanghai bourse.
The drug is indicated for glycemic control in adult patients with type 2 diabetes mellitus.
The pharmaceutical company's shares fell 3% during the morning trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.