[Featured Stock] Double U I Gains Attention as 'Chloroquine' Related Stock Emerging as COVID-19 Treatment... 'Strong Performance'
[Asia Economy Reporter Hyunseok Yoo] WI is showing strong performance. It appears that the news of Korea PMG Pharmaceutical, in which it holds shares, producing substances related to hydroxychloroquine (hereafter chloroquine), currently in clinical trials as a treatment for COVID-19, has had an impact.
As of 9:53 AM on the 1st, WI recorded 7,820 KRW, up 14.33% (980 KRW) compared to the previous trading day.
WI holds 635,000 shares (12% stake) of Korea PMG Pharmaceutical, which produces chloroquine. Korea PMG Pharmaceutical manufactures Oxyquin tablets, a malaria treatment drug with chloroquine as the main ingredient. As it became known that chloroquine is effective in treating COVID-19, the development of treatments using chloroquine is underway worldwide.
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On the 29th of last month (local time), a COVID-19 treatment using a chloroquine combination drug received emergency use authorization from the US FDA.
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