Shin Poong Pharm is continuing to show strength following the news of acquiring a European patent for the malaria treatment drug Piramax related to COVID-19. The preferred stock of Shin Poong Pharm has recorded the upper limit for two consecutive trading days.
As of 9:34 a.m. on the 18th, Shin Poong Pharm is trading at 16,360 won, up 3,550 won (27.71%) from the previous trading day. The preferred stock of Shin Poong Pharm is up 29.93%, reaching the upper limit.
As COVID-19 shows signs of resurgence globally, Shin Poong Pharm is showing strength with the news of receiving a patent for COVID-19 prevention and treatment in Europe. Shin Poong Pharm previously announced on the 13th that the malaria treatment drug Piramax has obtained a patent from the European Patent Office (EPO) as a "pharmaceutical composition for the prevention or treatment of infectious diseases caused by epidemic RNA viruses."