[Hot Stock] Samsung Biologics Soars on News of Contract for COVID-19 Treatment Contract Manufacturing
![[Hot Stock] Samsung Biologics Soars on News of Contract for COVID-19 Treatment Contract Manufacturing](http://www.asiae.co.kr/news/img_view.htm?img=2020041013522470441_1586494344.png)
[Asia Economy Reporter Eunmo Koo] Samsung Biologics is soaring. It appears that news of signing a contract for contract manufacturing of a novel coronavirus (COVID-19) treatment with a U.S. pharmaceutical company is having an impact.
As of 1:50 PM on the 10th, Samsung Biologics was trading at 587,000 KRW, up 22.68% (108,500 KRW) from the previous trading day.
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Samsung Biologics announced through a disclosure that it signed a letter of intent for a contract manufacturing agreement worth 362.24 million USD (441.8 billion KRW) with the U.S. company Vir Biotechnology. This amount represents 62.98% of the recent fiscal year's sales, and through this contract, Samsung Biologics plans to produce clinical and commercial quantities of COVID-19 neutralizing antibody products.
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