China Pharmaceutical Company's Eye Drops Approved by China's NMPA to Slow Down Myopia in Children

March 13, 2024

China Pharmaceutical Company’s Eye Drops Approved by China’s NMPA to Slow Down Myopia in Children

The official website of the National Medical Products Administration (NMPA) has recently announced that Xingqi Eye Medicine’s Atropine Sulfate Eye Drops (SQ-729) have been granted a drug approval certificate. The drops are intended for the purpose of slowing the progression of myopia in children. Following this announcement, Xingqi Eye Medicine’s stock price surged by nearly 13% on the 11th, reaching an all-time high.

China has a high prevalence of myopia, with the National Health Commission releasing the “China Eye Health White Paper” which revealed that in 2018, the overall myopia rate among children and adolescents in the country was 53.6%, with the number of myopic individuals over the age of five increasing annually. Known colloquially as a “miracle drug” for myopia, Atropine Sulfate Eye Drops are an ophthalmic preparation with atropine sulfate as the active ingredient, constituting a modified new drug. There are several similar drugs currently under research globally and in China, but Xingqi Eye Medicine’s newly approved drug is not only the first of its kind in China, but also the first among its global contemporaries to receive approval based on clinical trial data.


Real Estate Giant Vanke Proactively Settles Debt Ahead of Schedule Amid Capital Market Rumors

In response to various rumors of debt extension in the capital market, Vanke Enterprises Co., Ltd. (referred to as “Vanke A”, 000002.SZ) has demonstrated its stance by repaying its debts ahead of time. On March 11th, a medium-term note issued by the company with a scale of $630 million reached maturity, with the related debt repayment funds already in place by March 8th.

A representative from Vanke A stated that, to date, the company has already repaid nearly half of its debt on the overseas public market due this year. The remaining two installments of overseas debt are due in May and June and will be repaid in three ways. Domestically, 20 billion yuan of the 93 billion yuan in maturing debt due this year has been settled. “The domestic financing channels are very smooth, so there’s no need to worry too much about this.”

Chinese real estate companies were not having an easy time last year. Evergrande and Country Garden have either declared bankruptcy or stuck in debt trap. Before Vanke successfully settled the debt, rumors have been spread that it will following the path of Evergrande.


Gas Leak Suspected Cause of Blast in Fried Chicken Shop: 1 Dead, 22 Injured

On March 13th at 7:54 AM, an explosion occurred in a fried chicken shop in Yanjiao, Sanhe City, suspected to have been caused by a gas leak. Emergency services, fire department, health departments, and other relevant agencies responded to the scene immediately to conduct rescue operations and handle the situation. As of the latest reports, the accident has resulted in one fatality and 22 injuries.

Merchants nearby told reporters that across the street is a row of digital and electronics stores, while their side consists of several gourmet shops. They heard about the explosion in the morning while heading to their shop. Upon arriving at the scene, they found thick smoke billowing and could no longer see the surrounding buildings clearly. “After arriving on the scene, I heard another explosion. The impact was very severe. The building where my shop is located, which has four or five floors and a hotel above, seemed to be half-collapsed, and smoke was everywhere.

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