[탐사기획] ② Shinpoong Pharmaceutical “No comment on ownership of Piramax… Checking the Phase 3 report”

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Shinpoong Pharmaceutical (019170) announced that it had known about the administrative disposition of the Ministry of Food and Drug Safety (FDA) from before the public announcement registration date (December 7), and that the third clinical trial of Shinpoong Pharmaceutical’s product’Piramax’ is going on this morning An article came out and is attracting investors’ attention. Regarding this, a senior company official said that it was an article that did not reflect the management’s position, and expressed a passive position that it is currently being checked. When asked whether the ownership of Pyramax, which was used for the treatment of Corona 19, was split in relation to Shinpoong Pharmaceutical’s not leading the phase 3 clinical trial, a high-ranking official revealed that he would not respond, excommunication.

Shinpoong Pharmaceutical CI. [사진=신풍제약 홈페이지 캡처]

On the 6th, Shinpoong Pharmaceutical, a pharmaceutical company, announced that it had received a notice from the Ministry of Food and Drug Safety of the suspension of sales business related to the 2013 rebate case. Regarding the recently raised suspicion, a senior official at Shinpoong Pharmaceutical said, “Shinpoong Pharmaceutical is a 60-year-old company, and all of the IR, finance, and legal teams are watching the stock price change.” It is difficult to do the act of,” he said.

This can be interpreted as an assertion that it will sufficiently protect investors from stock price manipulation. However, from this remark, the recent suspension of sales business is judged to be a voluntary disclosure. However, if it is for the rights and interests of investors, there are continuing criticisms to guarantee the right to know through disclosure.

Meanwhile, on the morning of this morning, a media outlet reported that Pyramax’s new coronavirus infection (Corona 19) is undergoing phase 3 clinical trials, drawing attention from the market. As of 12:35 p.m., Shinpoong Pharmaceutical’s stock price is trading at 124,000 won, up 4.64% (5500 won) from the previous day.

◆ “This is not the company’s official position… currently being confirmed”

The problem is that Shinpoong Pharmaceutical is sticking to a cautious stance despite such reports of favorable news. A senior official at Shinpoong Pharmaceutical said, “I know it was written by a media outlet in the morning, but we are checking it now.” “We have not provided any press releases or the company’s position to the reporter.”

According to’Clinical Trial’, the news of this phase 3 clinical trial is confirmed to be true. However, suspicion is raised because the management was not aware of the fact that this study was registered, and some are analyzing that the acquisition of information would have been delayed because the subject of this study was not Shinpoong Pharmaceutical.

As a result of the investigation, it was confirmed that this phase 3 clinical trial was not conducted by Shinpoong Pharmaceuticals, but by the British’Liverpool University Tropical Hygiene Research Institute’. Currently, Shinpoong Pharmaceutical is confirmed to be jointly developing Pyramax for the treatment of Corona 19 with the Bill & Melinda Gates Foundation, the U.S. Centers for Disease Control and Prevention, the Kenya Medical Research Center, and the Kenya Centers for Disease Control and Prevention.

◆ “Piramax for COVID-19 treatment ownership…no comment”

Accordingly, attention is focused on whether to share the copyright and ownership of the Piramax for’Corona 19 treatment’ with a joint development company. Because this study was not conducted by Shinpoong Pharmaceutical alone, but several foreign companies participated, the possibility of profit distribution when sold as a COVID-19 treatment in the future is raised.

Regarding whether the ownership of Piramax will be split, a senior Shinpoong Pharm official said, “I will not comment on various circumstances in particular.” As the stock price rose compared to the beginning of the year, it is believed that some people have made a profit and some have lost money. This is why we are generally careful.”

This is also interpreted as a means of prioritizing the protection of investors, and some point out that it would be helpful to investors to disclose their position on ownership of Pyramex for treatment of Corona 19.

If this clinical trial is only conducted jointly with a foreign company, and Shinpoong Pharmaceuticals fully owns its ownership, it is argued that it will be a boon for both Shinpoong Pharmaceuticals and investors.

When asked again whether or not the ownership was split, the relevant official drew a line saying, “I will not comment because too many stories have already been produced.”

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