On July 17, Alibaba Health, Shanghai Tengrui Pharmaceutical Co., Ltd. and Peger Biopharmaceuticals Co., Ltd. jointly announced that they had reached a strategic cooperation. The core product of this cooperation, Paidacang, is a new Class 1 GLP-1RA drug independently developed by China. Peger Biomedical is independently developed, and Tenrui Pharmaceuticals is responsible for commercialization and promotion. According to the plan, Patercon will launch on the Alibaba Health Network in the near future.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.