[Featured Stock] Ilyang Pharmaceutical Accelerates COVID-19 Treatment Development... Nearing End of Phase 3 Clinical Trials Rumor

Company States "Clinical Matters Entrusted to Alpharm... Cannot Confirm Until Results Are Verified"
Unable to Verify Content on Russia-Related Sites, 'Baseless Claim'

[Asia Economy Reporter Hyungsoo Park] Ilyang Pharmaceutical is showing strength. Expectations for the development of a treatment for the novel coronavirus infection (COVID-19) appear to be influencing the stock price.

As of 9:26 a.m. on the 17th, Ilyang Pharmaceutical is trading at 63,300 KRW, up 4.11% from the previous day.

Ilyang Pharmaceutical is conducting related clinical trials, believing that ‘Suppect,’ a treatment for chronic myeloid leukemia, could be effective in treating COVID-19.

In May, Ilyang Pharmaceutical received approval from the Russian government to conduct Phase 3 clinical trials to develop ‘Suppect,’ the 18th domestic new drug and a treatment for chronic myeloid leukemia, as a COVID-19 treatment. This is the first case of a domestic new drug receiving clinical approval overseas as a COVID-19 treatment. Since it is expanding indications to COVID-19 through drug repositioning of a domestically proven safe new drug, it has the advantage of being commercialized as a treatment faster than other candidate substances.

The clinical trials are being conducted under the supervision of Alpham, the number one pharmaceutical company in Russia. The trials involve 145 mild to severe COVID-19 confirmed patients at 11 institutions in Russia and the neighboring country Belarus. Ilyang Pharmaceutical has granted Alpham exclusive rights and sales rights only in Russia and Belarus. Alpham will import and sell all finished products from Ilyang Pharmaceutical if the trials are successfully completed and commercialized. Ilyang Pharmaceutical will exercise rights over clinical results in countries other than Russia and Belarus.

According to local Russian-related sites, the Phase 3 clinical trial for the COVID-19 treatment Radotinib has entered its final stage.

Stock market experts advise caution in investment, stating that clinical trial results are unpredictable.

A company official said, "We cannot verify the contents of the site," and added, "There is no person available to respond to this matter."

He continued, "Clinical trial-related matters have been entrusted to Alpham, and results will be announced through official channels once available," adding, "At this point, it can be said to be groundless."

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