Celltrion researcher is testing corona antibody treatment at Celltrion 2 plant in Yeonsu-gu, Incheon. Photo = Yonhap News
Three Celltrion brothers are on the rise. Celltrion’s new coronavirus infection (Corona 19) treatment,’Recyrona’, is believed to be due to increased expectations ahead of the health authorities’ announcement of the verification results.
As of 9:42 am on the 18th, Celltrion is trading at 342,000 won, up 3.95% from the previous trading day. Celltrion Healthcare and Celltrion Pharmaceutical are also rising 3-4%.
The Ministry of Food and Drug Safety is planning to disclose the verification results of Celltrion’s COVID-19 antibody treatment. Earlier, Celltrion released the results of phase 2 clinical trials of Rekirona, a COVID-19 antibody treatment, on the 13th. No serious adverse reactions were known to have occurred in the safety assessment.
Prime Minister Jeong Sye-gyun said, “The approval review by the Ministry of Food and Drug Safety for Korea’s No. 1 COVID-19 treatment has entered the final stage. I will give it to you.”
The analysis of securities firms that the overseas approval and export momentum of Rekkirona shares is expected is also positively affecting the stock price.
Han Byeong-hwa, a researcher at Eugene Investment & Securities, said, “It is possible to make a global launch and sales contract only with the published clinical results. This is the basis for increasing the value of Celltrion and Celltrion Healthcare.”
He predicted that exports would start at the same time after obtaining approval for overseas emergency use within the second quarter. We raised the target price for Celltrion to KRW400,000 and the target price for Celltrion Healthcare from KRW150,000 to KRW190,000.
Chae Seon-hee, Hankyung.com reporter [email protected]
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