[Featured Stock] Daewon Pharmaceutical Rises as US Senator Advocates Approval of 'Budesonide' for COVID-19 Treatment... 'Strong Performance'

[Asia Economy Reporter Yoo Hyun-seok] Daewon Pharmaceutical is showing strong performance. It appears to be influenced by news that medical professionals, including U.S. Senators Rand Paul and Richard Bartlett, have strongly urged for the emergency use authorization of budesonide inhalers as a treatment for COVID-19.

As of 10:32 AM on the 7th, Daewon Pharmaceutical's stock was trading at 16,650 KRW, up 5.05% (800 KRW) compared to the previous trading day.

According to foreign media on the 6th (local time), it was reported that budesonide inhalers are effective in shortening the recovery period of COVID-19 patients, and a request for emergency use authorization (EUA) was submitted to the U.S. Food and Drug Administration (FDA).

Earlier, a research team from Oxford University in the UK prescribed budesonide inhalers to 1,779 patients who were being treated at home or in the community but were at high risk of progressing to severe illness, confirming that the time to recovery was shortened by about 3 days.

Senator Rand Paul and Dr. Richard Bartlett stated, "Budesonide is a drug that acts directly on the lungs, so it could be a simple treatment option to stop the COVID-19 pandemic."

Meanwhile, Daewon Pharmaceutical is currently selling Daewon Budesonide Injection, and companies approved by the Ministry of Food and Drug Safety for budesonide ingredients include Daewon Pharmaceutical, Korea AstraZeneca, and Samchundang Pharmaceutical.