BUZZ-Ardelyx rises as China approves kidney disease drug
ReutersFeb 26, 2025 12:46 PM
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
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