[Featured Stock] Samsung Biologics Shows 'Solo Strength' Amid KOSPI Decline

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] On the 19th, while the domestic stock market showed a downward trend, Samsung Biologics is the only stock among the top market capitalization stocks rising due to foreign buying.

As of 10:38 AM on the day, Samsung Biologics was trading at 914,000 KRW on the KOSPI market, up 15,000 KRW (1.67%) compared to the previous trading day. The stock price rose to 920,000 KRW during the morning session, recording a gain of over 2%, but the increase gradually narrowed afterward.

Samsung Biologics has continued an upward trend for three consecutive days since the 15th. During this period, foreigners recorded net buying. This is interpreted as growing expectations ahead of the contract manufacturing organization (CMO) for filling and packaging (DP) Moderna's mRNA vaccine amid the spread of the COVID-19 Delta variant.

In May, Samsung Biologics announced that it had signed a contract for the CMO of Moderna's mRNA vaccine DP. According to the contract, Samsung Biologics has started technology transfer of the Moderna vaccine and will begin aseptic filling, labeling, and packaging of hundreds of millions of doses of the vaccine for markets outside the United States starting in the third quarter. Additionally, it plans to pursue cGMP certification for the production of mRNA vaccine drug substance (DS) in the first half of next year.

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