[Featured Stock] AB Pro Bio Rises on Collaboration Spotlight Amid AstraZeneca-Gilead Merger News
[Asia Economy Reporter Minwoo Lee] AB ProBio's stock price is on the rise. The news that AstraZeneca, a British pharmaceutical company that formed a joint venture with AB ProBio, has proposed a merger to Gilead Sciences, the developer of 'Remdesivir,' a drug gaining attention as a treatment for COVID-19, appears to have acted as a positive factor.
As of 10:40 AM on the 10th, AB ProBio recorded 722 KRW, up 7.12% from the previous day. The news that AstraZeneca, a British pharmaceutical company collaborating with AB ProBio, proposed a merger to Gilead was highlighted. According to Bloomberg, AstraZeneca proposed a merger and acquisition to Gilead on the 7th. It is expected that if AstraZeneca merges with Gilead, the synergy effect in the fields of COVID-19 treatment and vaccines will be maximized.
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Meanwhile, AB ProBio's subsidiary AB Pro has established a joint venture, AB Med, with MedImmune, a subsidiary of AstraZeneca, and is cooperating in the development of pipelines related to ABP-201 and other fields.
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