[Featured Stock] Isu Abxis Reviews Approval of Sputnik V Vaccine... First Introduction of Disposable Culture System

[Asia Economy Reporter Hyungsoo Park] Isu Abxis is showing strong performance. The news that Korean authorities are reviewing the approval of the COVID-19 vaccine 'Sputnik V' appears to have influenced the stock price.

As of 9:41 a.m. on the 31st, Isu Abxis is trading at 14,500 KRW, up 9.43% from the previous day.

According to Russian foreign media, the Russian Embassy in Korea stated on Facebook on the 30th (local time) that "Korean authorities are reviewing the registration of Russian-produced anti-coronavirus drugs, including the Sputnik V vaccine."

All documents required for vaccine registration were submitted to the authorized institution in Korea earlier this year. The embassy predicted that Korea would start large-scale vaccinations including foreigners in the third quarter.

The Sputnik V vaccine was the world's first COVID-19 vaccine approved by Russia in August last year. Early last month, phase 3 results showing a 91.6% efficacy rate were published in the medical journal 'The Lancet.'

According to global market research firm Statista, the Sputnik V vaccine has been approved in 57 countries worldwide.

Earlier, on the 29th, Isu Abxis announced the commencement of technology transfer for the pilot production of 'Sputnik V,' developed by the Russian Gamaleya Institute. Isu Abxis has been continuing consultations with Gilead and Korea Corus for Russian vaccine production. Last month, Russian executives visited Isu Abxis's factory.

Despite the ongoing spread of COVID-19, Isu Abxis discussed with Gilead advancing the pilot production schedule of the Russian vaccine Sputnik V, which has superiority in efficacy and efficiency, due to insufficient vaccine supply worldwide. Accordingly, they decided to advance the pilot production schedule.

Isu Abxis CEO Seokju Lee said, "Sputnik V, developed and produced by the Russian Gamaleya Institute, will be produced using a single-use culture system that Isu Abxis is the first in the world to apply at the production stage," adding, "We are pleased that Isu Abxis, which possesses extensive know-how on this system, will contribute to improving the COVID-19 situation."

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