[Asia Economy Reporter Hyungsoo Park] Pharmicell is showing strong performance. The news that the American pharmaceutical company Moderna Therapeutics has made progress in developing a novel coronavirus (COVID-19) vaccine appears to have influenced the stock price.
As of 11:35 AM on the 15th, Pharmicell is trading at 22,950 KRW, up 20.47% from the previous day.
Pharmicell is a domestic pharmaceutical company that produces 'nucleosides,' the main raw material needed for gene therapies including COVID-19 vaccines. It is known to hold more than 80% of the global market for diagnostic and pharmaceutical nucleosides.
According to major foreign media, the American pharmaceutical company Moderna succeeded in generating antibodies in all test subjects during the initial clinical trials for the COVID-19 vaccine development. Earlier, on March 16, Moderna began the world's first clinical trial administering a COVID-19 vaccine drug to humans. Moderna is now approaching Phase 3, the final stage before drug release.
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