[Special Stock] Ildong Pharmaceutical, Government Rapid Development Cooperation... KDCA's 2.3 Trillion Won Budget for COVID-19 Treatment Purchase
[Asia Economy Reporter Hyungsoo Park] Ildong Pharmaceutical is showing strong performance. News that the government discussed cooperation matters regarding the oral COVID-19 treatment being developed by Ildong Pharmaceutical appears to have influenced the stock price.
As of 12:37 PM on the 22nd, Ildong Pharmaceutical is trading at 41,800 KRW, up 15.31% compared to the previous day.
The Pan-Government Task Force for COVID-19 Therapeutics and Vaccine Development held a sector-specific expert committee meeting on the same day to review the progress of therapeutics and vaccine development. The therapeutics expert committee checked the research progress and discussed support measures for Ildong Pharmaceutical and Celltrion, which are respectively developing oral therapeutics (pills) and antibody therapeutics that can be used against variants such as Omicron.
The therapeutics expert committee also exchanged opinions on clinical research plans and utilization methods, including medical field treatment efficacy investigations for Pfizer's oral therapeutic 'Paxlovid.' The vaccine expert committee reviewed the COVID-19 vaccine development status of SK Bioscience and YuBioLogics and discussed support and cooperation measures.
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The Korea Disease Control and Prevention Agency also secured an additional budget of 2.2921 trillion KRW through this supplementary budget. Specifically, the funds will be allocated for purchasing COVID-19 therapeutics (618.8 billion KRW), supporting living expenses and paid leave for hospitalized COVID-19 patients (1.3498 trillion KRW), additional support for living expenses for home-treated patients (112.3 billion KRW), support for local governments' rapid antigen test diagnostic kits (145.2 billion KRW), support for screening clinic testing personnel activities (6 billion KRW), and infection control allowances (60 billion KRW).
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