[Featured Stock] Isu Abxis Hits Upper Limit on News of Russia COVID Vaccine Production

[Asia Economy Reporter Ji Yeon-jin] Isu Abxis surged to the price limit from the start of trading on the 10th following news that it will undertake contract manufacturing of the COVID-19 vaccine developed by Russia.

Isu Abxis recorded a sharp rise of 29.61% immediately after the market opened, reaching 1.09 trillion KRW, and has maintained this level since. The surge is attributed to reports the previous day that Isu Abxis is pursuing a contract to jointly manufacture the Russian-developed COVID-19 vaccine 'Sputnik V' with Vinex, drawing significant investor attention.

Heo Hye-min, a researcher at Kiwoom Securities, stated in a report on the day, "As Isu Abxis prepares to expand its business into the CDMO sector, taking on the Russian vaccine CMO would allow it to quickly acquire CMO know-how and gain positive references. Based on this, it is expected to invigorate future additional CDMO orders, leading to improved profitability."

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