[Special Stock] Ilyang Pharmaceutical Under Russian Government Inspection... Expected Success in Drug Repurposing for COVID-19 Treatment

[Asia Economy Reporter Yoo Hyun-seok] Ilyang Pharmaceutical is showing strong performance. It appears that the news of the Russian government conducting an inspection of Ilyang Pharmaceutical's Supect production plant has had an impact.

As of 11:12 AM on the 18th, Ilyang Pharmaceutical was trading at 82,900 KRW, up 17.09% (12,100 KRW) compared to the previous trading day.

MoneyS reported that on this day, the Russian Ministry of Industry and Trade will conduct a Good Manufacturing Practice (GMP) inspection at Ilyang Pharmaceutical's Supect production plant located in Jecheon-si, Chungcheongbuk-do.

The Russian Ministry of Industry and Trade will inspect Ilyang Pharmaceutical's Supect production plant from the 21st to the 25th. During this period, the ministry will carry out quality analysis and inspection to verify whether Ilyang Pharmaceutical's plant meets the approval standards. Due to the impact of the novel coronavirus infection (COVID-19), the inspection will be conducted via video conference.

Additionally, this inspection is known to be part of Ilyang Pharmaceutical's efforts to enter the Russian market with its drug Supect as a 'leukemia treatment.' However, the industry expects that if Ilyang Pharmaceutical's Supect plant receives GMP approval (including inspection) and the Russian COVID-19 clinical results are positive, rapid production will be possible.