[Featured Stock] Yuhan Yanghang Surges on FDA Approval of 'Reclaza' in the US... New High

Yuhan Corporation is showing a strong gain of over 10% following the news that its non-small cell lung cancer treatment 'Reclaza' has received approval from the U.S. Food and Drug Administration (FDA). The stock hit a 52-week high during trading.

As of 9:05 a.m. on the 21st, Yuhan Corporation is trading at 104,000 KRW, up 10,000 KRW (10.64%) from the previous day. During the session, the price rose to 109,700 KRW, setting a new 52-week high.

On the previous day, Yuhan Corporation announced that the combination therapy of its non-small cell lung cancer drug Reclaza and the anticancer drug 'Rybrevant' from global pharmaceutical company Johnson & Johnson (J&J) received FDA approval. This marks the first time a domestically produced anticancer drug has been approved by the FDA.

Lee Hee-young, a researcher at Daishin Securities, said, "This FDA approval is a monumental case as it is the first domestically produced anticancer drug to receive marketing authorization in the U.S., reflecting the results of Yuhan Corporation's long-term research and development (R&D) investment. The launch of this K-blockbuster anticancer drug targeting an 8 trillion KRW market and the continuous cash flow generated from it are expected to support future mergers and acquisitions (M&A) and the strengthening of the new drug pipeline."

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