Luye Pharma Group (HKG:2186) received approval from Japan's Ministry of Health, Labour and Welfare for its Rivastigmine twice weekly transdermal patch, according to a Monday filing with the Hong Kong bourse.
The product named Rivaluen LA Patch 25.92 mg/51.84 mg is designed to suppress the progression of dementia in mild to moderate Alzheimer's disease. The approval follows successful Phase III trials in Japan.
Luye Pharma has partnered with Japanese generics manufacturer Towa Pharmaceutical (TYO:4553) for commercialization.
Luye Pharma's shares were 2% higher in recent trade.
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