Luye Pharma’s ERZOFRI Wins FDA Approval

Luye Pharma Group (HK:2186) has released an update.

Luye Pharma Group Ltd. has announced that their product ERZOFRI (paliperidone palmitate), an extended-release injectable treatment for schizophrenia and schizoaffective disorder, has been approved by the FDA. This once-monthly injection is notable for being the first U.S.-approved drug of its kind developed by a Chinese company with independent intellectual property rights, with a patent lasting until 2039. ERZOFRI is expected to provide a new option for patients, addressing issues with medication adherence and offering a novel treatment in a market that saw sales of a similar product reach nearly $3 billion in the previous year.

For further insights into HK:2186 stock, check out TipRanks’ Stock Analysis page.