[Special Stock] Chong Kun Dang Bio Rises on Domestic Approval of Botox

On the 1st, in the Korea Exchange market, Chong Kun Dang Bio is trading at 20,900 KRW, up 5.08% from the previous closing price. The stock price surged following the news of domestic approval for its Botox product.

Chong Kun Dang Bio is an affiliate of the Chong Kun Dang Group that produces active pharmaceutical ingredients (APIs) such as antibiotics, immunosuppressants, and probiotics based on fermentation. On this day, Chong Kun Dang Bio announced that it received manufacturing and marketing approval from the Ministry of Food and Drug Safety (MFDS) on the 31st of last month for its botulinum toxin product 'TMVERSE Injection' 100 units (Clostridium botulinum toxin type A). The indication is moderate to severe glabellar lines.

The company stated, "The product uses non-animal raw materials and non-animal additives in the manufacturing process to minimize the risk of blood-derived pathogen infection," adding, "We expect to provide a wide range of options for consumers sensitive to animal ingredients, vegan patients, and vegan consumers." They also explained, "We plan to launch the product domestically and proceed with overseas regulatory approvals."