** 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;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.