[Click eStock] "SK Bioscience's Own COVID-19 Vaccine to Become Korea's First Trillion-Won New Drug"

[Asia Economy Reporter Jang Hyowon] Hanyang Securities analyzed on the 27th that SK Bioscience's self-developed COVID-19 vaccine will become Korea's first new drug with trillion-won sales.

Oh Byungyong, a researcher at Hanyang Securities, stated in a report on the same day, “SK Bioscience's self-developed COVID-19 vaccine ‘GBP510’ has only one year left until commercialization,” and added, “The target market is the global population, and the purchaser is already determined for this new drug candidate.”

Given the current pandemic situation, the possibility of SK Bioscience's COVID-19 vaccine approval is also high. The company plans to produce hundreds of millions of doses, and even assuming 100 million doses are sold at $10 per dose, sales would exceed 1 trillion won.

According to UNICEF, the global demand for COVID-19 vaccines from 2022 is 15.8 billion doses. Assuming SK Bioscience captures a 2% share of the global market, sales of approximately 3.4 trillion won can be expected.

Researcher Oh said, “In fact, the contract manufacturing organization (CMO) business is merely SK Bioscience's cash cow,” and added, “What is much more important for the stock price is the self-developed COVID-19 vaccine business, which has not yet been reflected in the stock price.”

He continued, “Of course, clinical failure risks always exist, but it is rare to find a new drug candidate with this level of potential in Korea,” and emphasized, “The market capitalization is still around 11.7 trillion won, so now is the time to reevaluate SK Bioscience's ‘GBP510.’”

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