Yabao Pharmaceutical Group's (SHA:600351) subsidiary, Suzhou Yabao Pharmaceutical Research and Development, will conduct phase II clinical trials on its SY-009 capsules after receiving approval from China's National Medical Products Administration, according to a Monday disclosure on the Shanghai Stock Shanghai.
The product, which is being tested as a type 2 diabetes drug, will now be tested as a treatment for functional constipation.
The pharmaceutical company spent 87.2 million yuan on the research and development of the drug.
Shares of the company jumped more than 5% in recent trade.
Price (RMB): ¥6.14, Change: ¥+0.30, Percent Change: +5.14%
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