[Featured Stock] Mezzion, Domestic Supply Expected for COVID-19 Treatment 'Sabizabulin'

[Asia Economy Reporter Hyungsoo Park] Mezzion is showing strong performance. The expectation that the U.S. pharmaceutical company Veru’s COVID-19 treatment drug 'Sabizabulin' will be supplied domestically appears to be influencing the stock price.

As of 9:16 a.m. on the 2nd, Mezzion is trading at 19,800 KRW, up 1.8% from the previous trading day.

Mitchell Steiner, Chairman and CEO of the U.S. pharmaceutical company Veru, recently stated in an interview with a domestic media outlet, "Starting late this fall, we expect to provide the oral treatment 'Sabizabulin' for severe COVID-19 patients to about 100,000 patients monthly."

Three weeks ago, Veru received a recommendation from the U.S. Food and Drug Administration (FDA) during a meeting to submit an emergency use authorization application. Steiner said, "We also received a request from the White House COVID-19 response team, which includes Dr. Anthony Fauci of the U.S. National Institute of Allergy and Infectious Diseases, to discuss our treatment." Veru expects approval within weeks after submitting the emergency use authorization application. He added, "We plan to consecutively apply for emergency use authorization in countries other than the U.S., including South Korea."

The domestic supply of Sabizabulin is expected to be carried out through the new drug development company Mezzion. Steiner said, "I have been longtime friends with Mezzion Chairman Donghyun Park," and added, "We have been discussing with Mezzion over the past several months about supplying Sabizabulin to Korean hospitals."