[Special Stock] Pharmicell Rises on News of Supplying Raw Materials for US FDA-Approved COVID-19 Diagnostic Kit

Supply Contract for Nucleosides to Thermo Fisher, Diagnostic Kit Manufacturer Approved by US FDA

[Asia Economy Reporter Minwoo Lee] Pharmicell is on the rise following news that it supplies raw materials for a novel coronavirus (COVID-19) diagnostic kit approved by the U.S. Food and Drug Administration (FDA).

According to the Korea Exchange on the 16th, as of 9:55 a.m., Pharmicell was trading at 9,430 KRW, up 9.52% from the previous day. This appears to be due to the spotlight on the news that Pharmicell supplies raw materials to Thermo Fisher Scientific, a COVID-19 diagnostic kit manufacturer mentioned by the U.S. government.

In fact, U.S. Vice President Mike Pence stated at a White House briefing on the 14th (local time), "I am pleased that Thermo Fisher's high-throughput testing kit received FDA approval last night," and added, "We will announce the new 'high-throughput testing' system at 5 p.m. on the 15th."

Earlier, on the 6th, Pharmicell signed a nucleoside supply contract worth 1.14 million USD (approximately 1.38 billion KRW) with Thermo Fisher. Nucleosides are units that make up nucleic acids and are used as main raw materials in various virus diagnostic kits, infectious disease diagnostic reagents, and new gene therapy drugs. As the number of COVID-19 confirmed cases increased in the U.S., government-level emergency responses accelerated, leading to a surge in demand. Pharmicell also secured an order worth about 1.57 million USD (approximately 1.9 billion KRW) for nucleosides from Thermo Fisher on the 19th of last month. Thermo Fisher plans to process the secured nucleosides and supply them to pharmaceutical companies and research institutes worldwide.

This content was produced with the assistance of AI translation services.