BUZZ-Ardelyx rises as China approves kidney disease drug

Reuters
02-26
BUZZ-<a href="https://laohu8.com/S/ARDX">Ardelyx</a> rises as China approves kidney disease drug

** 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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