Changes in Hong Kong stocks | Federal Pharmaceuticals (03933) rose more than 6% in early trading and the listing application for heavy management of simeglutide injectable liquid was accepted

The Zhitong Finance App learned that Federal Pharmaceuticals (03933) rose more than 6% in early trading. As of press release, it rose 5.66% to HK$7.745, with a turnover of HK$24.1351 million.

According to the news, the federal pharmaceutical announcement stated that the application for heavy management of simeglutide injectable liquid declared by its wholly-owned subsidiary, Zhuhai Federal Biomedical Co., Ltd., was accepted by the China National Drug Administration for marketing registration. Simeglutide injections are mainly used for blood sugar control in type 2 diabetics, long-term weight management in obese or overweight patients, and to reduce the risk of related adverse cardiovascular events.

The current marketing registration for weight management indications has further enriched the product's indication layout and is expected to bring clinical benefits to a wider range of patients. The company has laid out a differentiated product pipeline combining innovative drugs and biosimilar drugs around the GLP-1 target to enhance market competitiveness in the biomedical field. In the future, the company will continue to work on new product research and development, which is expected to generate greater benefits for the company and its shareholders.