[Featured Stock] Wooridul Pharmaceutical Hits Upper Limit for 3 Consecutive Trading Days Following COVID-19 Diagnostic Kit Export Approval

[Asia Economy Reporter Minji Lee] Wooridul Pharmaceutical has been on a sharp rise for three consecutive trading days following the approval of export authorization for its rapid diagnostic kit for the novel coronavirus infection (COVID-19) by the Ministry of Food and Drug Safety.

At 9:10 a.m. on the 20th, Wooridul Pharmaceutical was trading at 25,850 KRW on the KOSPI market, up 27% from the previous session. During the day, Wooridul Pharmaceutical surged 29.8%, hitting the upper limit price for three consecutive trading days.

Wooridul Pharmaceutical announced on the 18th that it had received export approval for an antibody rapid diagnostic kit developed using the technology of its subsidiary, Access Bio, a global in vitro diagnostics specialist. Prior to this, Wooridul Pharmaceutical had also obtained export approval for two types of molecular diagnostic kits.

A Wooridul Pharmaceutical official explained, “COVID-19 diagnosis is largely divided into RT-PCR molecular diagnostic kits and immunological RDT antibody diagnostic kits. Molecular diagnostics are useful for early infection detection, while antibody diagnostics have higher accuracy in the later stages of infection, increasing the need for combined use of both diagnostic methods.” Meanwhile, Access Bio is currently under a trading suspension.