Taiwanese Regulator Approves Everest Medicines' Kidney Drug; Shares Down 4%
Everest Medicines' (HKG:1952) kidney drug Nefecon, indicated to reduce the loss of kidney function in adult patients with primary IgAN, was approved by the Taiwan Food and Drug Administration, a Thursday filing with the Hong Kong Exchange said.
IgAN or immunoglobulin A nephropathy is a kidney disease which causes antibodies to build up in kidneys, which cause inflammation and damage to glomeruli, the small filters inside the kidneys.
Nefecon is an etiological treatment oral drug for IgAN and is fully approved by the US Food and Drug Administration.
The biopharmaceutical company's shares were down nearly 4% in recent trade.
Price (HKD): $33.60, Change: $-1.6, Percent Change: -4.41%
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