Everest Medicines rose 2.9% to HK$33.42 after China’s National Medical Products Administration approved the new drug application for Xibituo, according to ETNet.

The drug, etripamil nasal spray, is approved for the treatment of acute episodes of adult paroxysmal supraventricular tachycardia and to restore sinus rhythm. Everest Medicines said Xibituo is its first approved innovative drug in the cardiovascular disease field and further expands its innovative product portfolio. It added that Xibituo is a novel, fast-acting calcium channel blocker developed by Milestone Pharmaceuticals and delivered through a portable nasal spray.