** Shares of drugmaker Ardelyx ARDX.O up 4.4% at $5.41 premarket
** ARDX says Chinese health regulator approved its drug, tenapanor, which helps control phosphate levels in dialysis patients with chronic kidney disease who don't respond well to other treatments
** Approval triggers a $5 million payment to ARDX from its Chinese partner, Shanghai Fosun Pharma 600196.SS
** ARDX is eligible for up to $100 million in further milestones and royalties from Fosun Pharma on net sales
** Fosun Pharma will market tenapanor in China, Hong Kong and Macau under the brand name Wan Ti Le
** The drug was approved by U.S. FDA in 2023 under the brand name Xphozah
** ARDX fell 16.2% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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