[Featured Stock] Prestige Bio to Establish 100,000-Liter COVID-19 Vaccine Facility... Rapid Distribution Infrastructure

[Asia Economy Reporter Hyunseok Yoo] Prestige BioPharma is showing strong performance. The news that it plans to complete facilities to produce COVID-19 vaccines within this year appears to have influenced its stock price.

As of 1:58 PM on the 9th, Prestige BioPharma was trading at 31,250 KRW, up 6.66% (1,950 KRW) compared to the previous trading day.

Prestige BioPharma, a pharmaceutical company specializing in antibody drug development, is establishing a vaccine production center amid the prolonged COVID-19 situation. Utilizing 2,000㎡ of expansion space within the site of its affiliate Prestige BioLogics' second factory, it is rapidly advancing the construction of a vaccine production center with a total floor area of approximately 8,500㎡ to be completed within the year.

Once completed, the facility will have a maximum production capacity of 100,000 liters and will proactively respond to the production of vaccines not only for COVID-19 but also for various viral infectious diseases that may arise in the future.

Prestige BioPharma’s vaccine production center will be designed to maximize efficiency and be applicable to various production processes by utilizing Prestige BioLogics’ specialized service, Custom Engineering. Construction is scheduled to begin this month, with plans to complete the building and production system validation within the year.

Park Soyeon, CEO of Prestige BioPharma, stated, “As the COVID-19 situation prolongs, concerns about viral infectious diseases that may occur in the future are growing alongside expectations for related vaccines. Based on the establishment of a global-scale vaccine production center, we expect not only to create new revenue streams through vaccine research, development, and production but also to contribute to proactive infectious disease response.”