Hualing Pharmaceuticals announced that on November 21, 2024, its wholly-owned subsidiary Hualing Shanghai has formally notified Bayer in writing that it will take back the commercialization responsibility of Huatangning® in China from January 1, 2025. Huatangning® is the first glucokinase activator for the treatment of type 2 diabetes. Since August 17, 2020, Hualing Pharmaceuticals has established a partnership with Bayer, with Bayer obtaining the exclusive commercialization rights of Huatangning® in China. Since the collaboration, Huatangning® has achieved several milestones, including getting approval for sales from the China National Medical Products Administration in October 2022, and being included in the National Medical Insurance Drug Catalog starting from January 1, 2024. As of the announcement date, Huatangning® has entered more than 2,000 hospitals in China and has been included in the "China...Show More

Hualing Pharmaceuticals announced that on November 21, 2024, its wholly-owned subsidiary Hualing Shanghai has formally notified Bayer in writing that it will take back the commercialization responsibility of Huatangning® in China from January 1, 2025. Huatangning® is the first glucokinase activator for the treatment of type 2 diabetes. Since August 17, 2020, Hualing Pharmaceuticals has established a partnership with Bayer, with Bayer obtaining the exclusive commercialization rights of Huatangning® in China. Since the collaboration, Huatangning® has achieved several milestones, including getting approval for sales from the China National Medical Products Administration in October 2022, and being included in the National Medical Insurance Drug Catalog starting from January 1, 2024. As of the announcement date, Huatangning® has entered more than 2,000 hospitals in China and has been included in the "China Diabetes Prevention and Treatment Guidelines (2024 Edition)." To facilitate the transition, Hualing Pharmaceuticals plans to terminate the agreement with Bayer from January 1, 2025, and may seek other potential partners to support the ongoing commercial sales of Huatangning® in China. Hualing Pharmaceuticals will issue a separate announcement in accordance with listing rules and applicable laws to provide the latest information on Huatangning®.