[Featured Stock] Amicogen Rises on COVID-19 Solution Using Anthelmintic Substance... Strong Performance

[Asia Economy Reporter Yoo Hyun-seok] Amicogen is showing strong performance. The news that ivermectin, used as an anthelmintic, can eliminate the novel coronavirus infection (COVID-19) within 48 hours appears to have had an impact.

As of 9:21 AM on the 22nd, Amicogen was trading at 24,950 KRW, up 2.89% (700 KRW) compared to the previous trading day.

According to related industries, a research team from Monash University and the Victorian Infectious Diseases Reference Laboratory in Australia revealed in the journal 'Antiviral Research' that ivermectin, a drug used as an anthelmintic, can effectively combat COVID-19.

Ivermectin is a drug used to treat parasitic infections caused by head lice and scabies mites. Previous studies have shown that it can also eliminate certain viruses such as HIV-1 and dengue virus. In particular, this laboratory study demonstrated that ivermectin can actually combat severe COVID-19 infections caused by the coronavirus.

Recently, Amicogen announced that it will begin developing a COVID-19 treatment using ivermectin, an animal drug produced by its subsidiary Amicogen (China) Biopharm. An Amicogen official stated, "Ivermectin is not only used as an anthelmintic but has also been found to have antiviral effects against AIDS, dengue fever, influenza, and Zika. Since ivermectin is an FDA-approved drug, we believe it is possible to repurpose it as a COVID-19 treatment in a short period."

Amicogen China is responsible for securing the active pharmaceutical ingredient (API) of ivermectin and obtaining approval and registration within China, Amicogen Pharma is conducting domestic testing and approval applications, and Amicogen will provide technical support during the treatment development phase and handle commercialization.