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ZLAB - Paratek Zai Labs up on Chinese approval of Nuzyra for pneumonia skin infections
Zai Lab Limited
Paratek Pharmaceuticals (PRTK +12.2%) is up 12% after announcing that China's National Medical Products Administration approved Nuzyra (omadacycline) for community-acquired bacterial pneumonia and bacterial skin infections. Nuzyra was licensed to Zai Labs (ZLAB +15.7%) in greater China. As a result of the approval, Paratek received a $6M milestone payment. Read Seeking Alpha contributor Bret Jensen's take on Paratek.