China Resources Double-Crane Pharmaceutical's (SHA:600062) unit, Double-Crane Pharmaceutical (Shangqiu), obtained approval from the Chinese drug administration to market a chemical active ingredient for pregabalin, according to a Shanghai Stock Exchange filing on Saturday.
Pregabalin is a medication used to treat postherpetic neuralgia and fibromyalgia.
The company invested 8.4 million yuan into the research and development of the active pharmaceutical ingredient or API, the filing said.
The company's shares rose over 1% in recent trade.
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.