Key Highlights
- PegBio Co., Ltd. (Stock Code: 2565) has announced the issuance of the first batch of commercial prescriptions for its core product, Paidakang® (Visepegenatide injection), across China.
- This milestone marks the transition of Paidakang® from R&D and regulatory approval to actual clinical use and patient access.
- The successful issuance of prescriptions has triggered the conditions for a second royalty payment of approximately HK\$49 million from commercial partner Shanghai Tenry Pharmaceutical Co., Ltd.
- PegBio previously received a first royalty payment of HK\$61 million as part of its exclusive commercialization agreement with Tenry Pharmaceutical.
- PegBio reaffirms its commitment to further market expansion and product availability across Chinese mainland, while cautioning investors about potential commercialization risks.
Detailed Article
PegBio Co., Ltd., a biopharmaceutical company listed on the Hong Kong Stock Exchange, has reached a significant commercial milestone for its flagship product, Paidakang® (Visepegenatide injection), a long-acting GLP-1 receptor agonist indicated for the treatment of type 2 diabetes in adults.
First Commercial Prescriptions Issued Nationwide
As of July 22, 2026, the first batch of commercial prescriptions for Paidakang® has been successfully issued at several leading medical institutions across China, including Peking University People’s Hospital and the Second Xiangya Hospital of Central South University. Notably, the first prescription at Peking University People’s Hospital was issued by Professor Ji Linong, a leading expert in Paidakang®’s Phase III clinical study and head of the hospital’s endocrinology department. Similarly, Professor Zhou Zhiguang, another key figure in the clinical development of Paidakang® and head of Metabolic Endocrinology at the Second Xiangya Hospital, wrote the first prescription at his institution.
This development marks the official entry of Paidakang® into routine clinical application and patient use, representing a major leap from independent research and clinical trials to real-world commercialization.
About Paidakang® and Its Clinical Value
Paidakang® is a weekly, fixed-dose (0.97 mg) GLP-1 receptor agonist, developed entirely by PegBio. It is distinguished by the absence of need for dose titration at initiation and boasts sustained glycemic control, favorable safety, good gastrointestinal tolerability, and multiple metabolic benefits as demonstrated in clinical trials. The drug received marketing approval from China’s National Medical Products Administration for adult type 2 diabetes.
Second Royalty Payment Secured
The successful nationwide launch of commercial prescriptions has satisfied the contractual conditions for a second royalty payment from Shanghai Tenry Pharmaceutical Co., Ltd., PegBio’s exclusive commercialization partner for Paidakang® in mainland China. Tenry Pharmaceutical has confirmed in writing that these requirements have been met and will pay PegBio approximately HK\$49 million in accordance with their commercialization agreement. This follows a previous payment of HK\$61 million upon earlier milestones.
The Board of PegBio views these events as critical milestones, both for the clinical introduction of Paidakang® and for the ongoing commercial relationship with Tenry Pharmaceutical. The Group anticipates receiving the payment within the stipulated period set out in the agreement.
Strategic Outlook and Investor Considerations
PegBio and Tenry Pharmaceutical intend to collaborate closely on expanding market access, academic promotion, sales channel development, terminal coverage, and patient services for Paidakang® throughout China. The Group also emphasizes ongoing product quality management and supply stability to boost clinical and patient accessibility.
Shareholders should note: The actual commercial performance of Paidakang® may be influenced by the broader market environment, access and reimbursement dynamics, the pace of commercialization, and other external factors. The company explicitly advises investors to exercise caution when trading its shares, as these developments—while positive—carry both opportunity and risk depending on how the commercialization trajectory unfolds.
Leadership and Governance
As of the announcement date, PegBio’s Board is led by Chairman, Executive Director, and General Manager Dr. Michael Min Xu, supported by a mix of executive, non-executive, and independent non-executive directors, reflecting a strong governance structure.
Disclaimer: This article is based on company disclosures and is intended for informational purposes only. It does not constitute investment advice. The actual commercial performance of Paidakang® may be affected by numerous factors, and investors are advised to exercise caution and consult with a professional adviser before making investment decisions.
