[Featured Stock] Samba Rises on CMO Awards Win and China Wuxi Bio Export Regulation News
![[Featured Stock] Samba Rises on CMO Awards Win and China Wuxi Bio Export Regulation News](http://www.asiae.co.kr/news/img_view.htm?img=2022011311401798374_1642041617.jpg)
[Asia Economy Reporter Lee Myunghwan] Samsung Biologics is showing strong performance, rising nearly 6% by mid-day trading on the 8th, following awards in the biopharmaceutical contract manufacturing organization (CMO) sector and news of U.S. export controls on a Chinese competitor.
As of 1:50 PM on the same day, Samsung Biologics was trading at 811,000 KRW, up 6.29% (48,000 KRW) from the previous trading day.
Samsung Biologics announced that it won awards in all six evaluation categories at the '2022 CMO Leadership Awards,' which recognizes excellence in the CMO sector. The CMO Leadership Awards are organized by the U.S. life sciences magazine 'Life Science Leader' and the pharmaceutical and bio research institute 'Industry Standard Research.'
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Additionally, it appears to have gained a reflective benefit from U.S. export restrictions imposed on the Chinese CMO company 'Wuxi Biologics.' On the 7th (local time), the U.S. Department of Commerce added 33 Chinese entities, including Wuxi Biologics, to its Unverified List (UVL). Companies on this list must obtain U.S. government approval before exporting to the United States.
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