Understanding the Market | EVEREST MED-B rose over 3% and announced the launch of the production construction project for Iqymod at its factory in Jiashan
EVEREST MED-B's stock price rose by more than 3%, with an increase of 2.86% as of the time of writing, reported at HKD 59.4, with a transaction volume of HKD 129 million. The company announced the launch of the production construction project for Iqmodem at the Jiaxing factory, with a total investment of 70 million yuan, and an expected annual production capacity of 50 million pieces, supplying regions including mainland China, Hong Kong, Macau, Taiwan, South Korea, and Singapore. This medication is used for the treatment of moderate to severe active ulcerative colitis, characterized by good safety and rapid onset of action
According to Zhitong Finance APP, EVEREST MED-B (01952) rose over 3%, and as of the time of writing, it increased by 2.86%, trading at HKD 59.4, with a transaction volume of HKD 129 million.
In terms of news, on March 19, EVEREST MED announced the launch of the production construction project for VELSIPITY® at its Jiaxing factory to support the localized production of VELSIPITY®. The total investment for this project is 70 million yuan, and it is expected that after formal production begins, the annual production capacity of VELSIPITY® will reach 50 million tablets, with planned supply areas covering EVEREST MED's authorized regions, including mainland China, Hong Kong, Macau, Taiwan, South Korea, and Singapore.
It is reported that VELSIPITY® is a first-line advanced therapy taken orally once daily for the treatment of moderate to severe active ulcerative colitis (UC) patients. The drug acts quickly, achieving clinical remission and mucosal healing, and has good safety characteristics. In December 2024, the new drug application for VELSIPITY® was officially accepted by the National Medical Products Administration of China. Ulcerative colitis is a chronic, recurrent, non-specific inflammatory disease, and as the condition progresses, the disability rate and incidence of colorectal cancer continue to rise. It is estimated that by 2030, the number of ulcerative colitis patients in China will reach approximately 1 million, more than double the number of patients in 2019, indicating a significant unmet clinical need
