Shares of pharmaceutical and biotech companies moved up briskly on Monday, as the benchmark KOSPI rebounded in five trading days.
KOSPI was up 1.25 percent, or 25.54 points, to close at 2,083.02 on Monday. Gains in pharmaceuticals and biotechs boosted the rise of the KOSPI.
Thirteen pharmaceutical and biotech companies were included in the top 100 listed firms that posted a stock increase on Monday compared to Friday.
Among the 13 firms, TCM Biosciences showed the steepest rise, up 12.3 percent to close at 17,350 won ($15.36) per share on Monday.
Biosimilar maker Celltrion followed, with 8.82 percent gain, closing at 240,500 won. Genome analysis firm Theragen ETEX surged 8.6 percent to 12,000 won, and biologic diagnostics firm Gencurix, 8.59 percent to 21,500 won.
Gene-based diagnostics company Seegene went up 7.78 percent to 18,000 won, Ilsung Pharmaceutical, 6.98 percent to 115,000 won, and cell therapy developer Bio Solution, 6.89 percent to 39,550 won.
Finished drug manufacturer Sam Chun Dang Pharm and Celltrion’s product distributor Celltrion Healthcare also gained 6.73 percent and 6.59 percent, respectively, to 39,650 won and 84,100 won.
Pharmaceutical ingredient maker PharmswellBio climbed 6.5 percent to close at 4,670 won, and peptide new drug developer C-TRI, 6.18 percent to 4,895 won. Botanical and herbal drug developer Kemimedi also increased 6.18 percent to 3,400 won, and contract manufacturing organization (CMO) Kolmar Korea, up 6.12 percent to 67,600 won.
“Institutional investors’ buying spree drove up the rise in KOSPI,” said an analyst. “Many of pharmaceutical and biotech firms restored their stock prices to the level of those in early this year, despite negative issues such as accounting fraud controversy at Samsung BioLogics.”
Investors will have to pay attention to clinical results of the pipelines moving forward, he added.
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