[Featured Stock] Trump Considers Using 'Chloroquine' for COVID-19 Treatment... Shinpung and United Pharm Lead Gains
[Asia Economy Reporter Minwoo Lee] U.S. President Donald Trump has instructed to review the possibility of using the malaria treatment drug 'Chloroquine' for treating the novel coronavirus infection (COVID-19), leading to a surge in stocks of manufacturers such as Shinpung Pharmaceutical and United Pharmaceutical.
As of 10:10 AM on the 20th, Shinpung Pharmaceutical's stock price is showing 7,660 KRW, up 15.89% from the previous day. On the 19th (local time), President Trump ordered a rapid test to determine whether chloroquine (ingredient hydroxychloroquine sulfate) can be used for COVID-19 treatment, drawing attention to Shinpung Pharmaceutical, which produces the drug.
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United Pharmaceutical is also showing strength. It is trading at 12,250 KRW, up 8.89% from the previous day. United Pharmaceutical sells Asiquin tablets, an antimalarial drug containing hydroxychloroquine sulfate as the active ingredient.
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