An administrative law judge of the US International Trade Commission recommended the banning of the importation of Ascletis Pharma's (HKG:1672) ASC41 and ASC43F drug candidates to the US for seven years following a dispute with US-based pharmaceutical company Viking Therapeutics.
Viking sought the ban in relation to the development of its drug candidate VK2809, another liver drug, according to a Monday filing with the Hong Kong Stock Exchange.
The importation ban on Ascletis' two drug candidates, which are indicated for liver disease, will be lifted sooner than seven years should Viking cease to develop VK2809, the filing said. Viking will also be required to write reports for the development of the VK2809 for the duration of the ban.
Ascletis will "assess its possible options," and could include seeking a reversal of the decision, it said.
Shares jumped 2% during Monday's afternoon trading.
Price (HKD): $1.41, Change: $+0.040, Percent Change: +2.92%
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