Jiangsu Hengrui Medicine (SHA:600276, HKG:1276) received an orphan drug designation from the US Food and Drug Administration (FDA) for Trastuzumab for injection, speeding the product's clinical trial and marketing registration process, according to a Shanghai bourse filing on Thursday.

The drug was developed to treat gastric cancer or gastroesophageal junction adenocarcinoma in combination with Adebelimab injection and chemotherapy.

About 1.26 billion yuan was invested in the research and development of the drug as of the date of the announcement.

Hengrui's Hong Kong shares dropped over 3%, while its Shanghai shares slipped over 1% during morning trade.