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Biomedical: Trevena Inc.'s Pain Treatment Olinvyk Gets China's Nod, Shares Skyrocket
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What happened? Shares of Trevena Inc. surged more than five-fold higher on Monday after the company's China-based partner received formal Show More
What happened?
Shares of Trevena Inc. surged more than five-fold higher on Monday after the company's China-based partner received formal approval from China health regulators for the pain treatment Olinvyk. The stock saw 75.7 million shares change hands and had been halted 21 times for volatility since the open. Olinvyk was approved by the US Food and Drug Administration in August 2020 and has now been approved by China's National Medical Products Administration.

Why is it important?
According to market research firm Statista, the global pharmaceutical industry is projected to generate $1.16 trillion in sales in 2023, with an annual revenue growth of 5.4% expected through 2027. Specifically, oncology drugs are predicted to generate $202 billion in sales this year. In addition to being a defensive investment option amid an uncertain economy, pharmaceutical stocks can also offer substantial dividends, which can provide a steady income source and serve as a hedge against inflation.

What about you?
What are your thoughts on the recent approval of Olinvyk by China's National Medical Products Administration and its potential impact on Trevena and its investors?
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