[Market Focus] Kukjeon Pharm Surges on Subsidiary's Anticancer Drug Supply Deal with Southeast Asia's Largest Pharmaceutical Company

Kukjeon Pharm is showing strong performance. This is interpreted as being influenced by news that its subsidiary has signed an anticancer drug supply contract with the largest pharmaceutical group in Southeast Asia.

As of 12:07 p.m. on July 17, Kukjeon Pharm was trading at 4,290 won, up 19.17% from the previous day.

According to the industry, Kukjeon Pharm announced the previous day that its subsidiary, KS Biologics (KSBL), had signed a supply and license agreement for anticancer drugs with Kalbe, the largest pharmaceutical group in Southeast Asia. Kalbe Group, headquartered in Indonesia, is the largest pharmaceutical company in Southeast Asia, with a market capitalization of about 7 trillion won and sales of 2.7 trillion won last year.

KSBL is a CDMO company specializing in anticancer drugs, jointly established in 2023 by Kukjeon Pharm, a leading domestic API company, and SN Bioscience, a company specializing in new drug development. In particular, KSBL has a diverse anticancer drug pipeline, including a generic version of 'Abraxane,' which is considered one of the blockbuster anticancer products. Based on its leading domestic production facilities and quality control capabilities, KSBL is strengthening its competitiveness in the high value-added anticancer drug market.

Through this contract, Kalbe will be exclusively responsible for obtaining pharmaceutical approvals, sales, and marketing for KSBL's anticancer drug pipeline in various Southeast Asian countries. The two companies plan to continue their strategic cooperation to secure an early foothold and expand sales in these markets.