[Market Focus] Daebong LS Rises on Expectations of Exclusive Domestic Supply of GLP-1 Obesity Drug with India's Shilpa

Daebong LS shares are on the rise. The stock appears to be gaining momentum on the possibility of an exclusive domestic contract, as the company collaborates with Indian pharmaceutical firm Shilpa on obesity treatments.

As of 10:54 a.m. on May 13, Daebong LS shares were trading at 14,300 won, up 4.84% from the previous day. Earlier this year, the company announced a partnership with India's Shilpa Pharma Lifesciences and began discussions on contract development and manufacturing (CDMO) for the obesity treatment 'Liraglutide,' fueling expectations for exclusive domestic supply.

Liraglutide is an obesity and diabetes treatment in the 'GLP-1 RA' class. It works by regulating insulin secretion in the body and suppressing appetite to enhance its effectiveness. Recently, GLP-1 class treatments have been drawing attention in the obesity drug market.

Last year, Daebong LS succeeded in synthesizing liraglutide using an eco-friendly method and completed the patent registration for this manufacturing process. In January of last year, the company signed a memorandum of understanding with Shilpa for CDMO cooperation on liraglutide. Deepak Kalita, Vice President of Shilpa, and Naveen Rathod, Head of Business Development, visited Daebong LS headquarters to coordinate production schedules, business strategies, and contract terms to implement the memorandum of understanding.