Russian COVID Vaccine Nears WHO Approval... Related Stocks 'Buzzing'

[Asia Economy Reporter Ji Yeon-jin] Russian state-run news agency TASS reported that the World Health Organization (WHO) approval of the Russian COVID-19 vaccine Sputnik V is imminent, drawing attention to related stocks.

According to the financial investment industry on the 10th, KOSDAQ-listed companies Etron and EID have made indirect investments in Sputnik V through KOSDAQ-listed funds. Isu Abxis and Prestige Biopharma are also known as Sputnik-related stocks.

On the day, Etron's trading volume exceeded 10 million shares, and its price rose more than 10% during the session. EID also rose more than 4% during the session but turned downward in the afternoon. Isu Abxis and Prestige Biopharma showed weakness.

Meanwhile, GL Rapha, the parent company of Korea Corus, which is in charge of domestic contract manufacturing of Sputnik, recently signed a main contract with the U.S. KBT Company to establish a bio-incubation center in Uzbekistan.

The construction of the bio-incubation center will proceed over the next five years, with a total investment of $235 million. The company plans to promote a similar bio-incubation center project in Saudi Arabia as well.