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Innovent Biologics ( (HK:1801) ) has shared an announcement.
Innovent Biologics has announced that its new drug, mazdutide, has received approval from China’s National Medical Products Administration for glycemic control in adults with type 2 diabetes. This approval marks mazdutide as the first dual glucagon/glucagon-like peptide-1 receptor agonist for this indication, offering comprehensive benefits such as glycemic control, weight reduction, and improvements in hepato-cardio-renal metabolic indicators. The approval is based on successful Phase 3 clinical trials demonstrating its efficacy and safety, positioning Innovent as a key player in addressing the diabetes epidemic in China, which has the largest population of type 2 diabetes patients in the world.
The most recent analyst rating on (HK:1801) stock is a Hold with a HK$100.00 price target. To see the full list of analyst forecasts on Innovent Biologics stock, see the HK:1801 Stock Forecast page.
More about Innovent Biologics
Innovent Biologics, Inc. is a pharmaceutical company incorporated in the Cayman Islands, focusing on the development of innovative biologics for the treatment of various diseases. The company is known for its work in the field of diabetes, particularly with its novel drug therapies aimed at improving glycemic control and addressing metabolic disorders.
Average Trading Volume: 21,997,173
Technical Sentiment Signal: Buy
Current Market Cap: HK$165.3B
See more insights into 1801 stock on TipRanks’ Stock Analysis page.