Huadong Medicine Rises as Ministry Approves Cat Weight-Loss Drug Application

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Shares of Huadong Medicine increased after the major pharmaceutical company announced that regulators had accepted a marketing application from one of its subsidiaries for a groundbreaking weight-loss medication designed specifically for adult cats.

The company’s stock closed 1.3% higher at CNY39.06 (approximately USD5.59) today, outperforming the broader Shenzhen market, which saw a 0.5% gain. Since the end of last year, the stock has climbed by 13%.

The application to market a pribopeptide injection aimed at obese cats was approved for review by China’s Ministry of Agriculture and Rural Affairs on December 26, according to a statement released on social media by the company’s Hangzhou-based headquarters.

China’s population of pet animals has been steadily increasing, with urban domesticated cats alone surpassing 71 million last year. A government white paper on the pet industry indicates that around 28% of pet cats in the country are classified as obese. Obesity in cats can lead to issues such as diabetes, cardiovascular diseases, respiratory problems, and joint disorders.

In clinical trials, obese cats receiving the recommended dose of the pribopeptide injection over six weeks experienced an average weight loss of 9.3%. Additionally, 72% of the animals shed more than 5% of their body weight, with no adverse effects or drug intolerance reported.

The pribopeptide injection is a long-acting dual receptor agonist that targets both the glucagon-like peptide-1 (GLP-1) receptor and the glucose-dependent insulinotropic polypeptide (GIP) receptor. It belongs to the same dual-target drug class as Eli Lilly’s tirzepatide, a well-known medication for human health. The rights to the global intellectual property for this drug are owned by the parent company.

There is a significant untapped market for weight-loss solutions in the pet industry. The company believes this will likely become the first long-acting GLP-1 and GIP targeting drug for overweight cats worldwide.

While drugs like Semaglutide and tirzepatide by Novo Nordisk dominate the GLP-1 agonist market for humans, pharmaceutical companies are increasingly eyeing the pet weight management sector as a promising new avenue for growth.