Shanghai Fosun Pharmaceutical (SHA:600196, HKG:2196) subsidiary Zhejiang Xinghao Pengbo Pharmaceutical received approval from China's medical products administrator to begin clinical trials for XH-S004.
XH-S004 is intended to treat chronic obstructive pulmonary disease (COPD) and non-cystic fibrosis bronchiectasis, according to a Thursday filing with the Shanghai bourse.
Shares of the pharmaceutical company rose 1% in recent trade.
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