[Market Focus] Shares Jump Over 8% Early as Ildong Pharmaceutical Boosts Synergy With R&D Subsidiary Merger

Ildong Pharmaceutical's stock price surged over 8% in early trading following news of the absorption-type merger of its research and development (R&D) subsidiary.

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As of 9:19 a.m. on April 14, Ildong Pharmaceutical was trading at 28,850 won, up 8.05% (2,150 won) from the previous trading day.

The previous day, Ildong Pharmaceutical announced that it would absorb its 100% R&D subsidiary, Unovia, through a merger. This merger will be conducted without issuing new shares, and the merger ratio will be 1:0. The record date for determining shareholders is April 30, and the merger date is set for June 16.

Ildong Pharmaceutical established Unovia in November 2023 by spinning off its R&D division. Last year, Ildong Pharmaceutical achieved topline data from a Phase 1 clinical trial of a 'GLP-1RA' obesity treatment through Unovia, and successfully advanced its 'P-CAB' peptic ulcer treatment (Padoprazan) into Phase 3 clinical trials, demonstrating progress in new drug development. With this merger, the company plans to accelerate the commercialization of major pipelines such as the GLP-1RA obesity treatment and P-CAB peptic ulcer treatment.

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