Caixin
Aug 05, 2022 07:22 AM
BUSINESS

Developer of First China-Made Covid Pill Files for Hong Kong IPO

More than 10 other Chinese drugmakers are racing to develop their own treatments
More than 10 other Chinese drugmakers are racing to develop their own treatments

Genuine Biotech, developer of China’s first approved homegrown Covid-19 pill, filed for an initial public offering in Hong Kong to fund commercialization of the treatment and new drug development.

Henan province-based Genuine Thursday applied to the Hong Kong stock exchange for a share sale of undisclosed size. Proceeds will be used to produce and commercialize the Azvudine pill for Covid and development of new drugs to combat HIV and blood cancers, the company said.

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