[Special Stock] 'Moderna Effect' Samsung Biologics Surpasses 1 Million Won
[Asia Economy Reporter Park Soyeon] Samsung Biologics showed strength as it prepares to start production of Moderna mRNA COVID-19 vaccines from the end of this month, surpassing 1 million KRW per share during trading hours.
As of 9:51 AM on the 17th, Samsung Biologics was trading at 1,001,000 KRW, up 10,800 KRW (1.83%) from the previous trading day. During the session, the price rose to 1,005,000 KRW, setting a new 52-week high.
Earlier, Samsung Biologics announced in May that it had signed a contract for contract manufacturing (CMO) of the COVID-19 mRNA vaccine developed by Moderna in the United States. According to the contract, the company has begun technology transfer for the Moderna vaccine and is expected to start aseptic filling, labeling, and packaging of hundreds of millions of doses from the end of this month.
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Park Byung-guk, a researcher at NH Investment & Securities, said, "Our company expects continuous improvement in profitability due to increased operating rates, with an annual cost of sales ratio of 54% and an operating profit margin of 34%."
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