Sam Chun Dang Pharm is gaining strength early on the 24th. This is interpreted as an influx of buying following the news that Sam Chun Dang Pharm successfully completed trials for the development of a generic version of Novo Nordisk’s oral obesity treatment.
As of 9:42 a.m. on this day, Sam Chun Dang Pharm is trading at 236,500 won, up 23,000 won (10.77%) from the previous trading day. After reaching the upper limit (the highest daily price restriction) the day before, the stock also rose to 245,000 won during the day. This is the highest price in history.
The previous day, the stock price of Sam Chun Dang Pharm soared following the announcement that the oral GLP-1 generic product it is developing successfully passed the biological equivalence (BE) test against the original drug, Novo Nordisk’s ‘Rybelsus.’
‘Rybelsus’ is a product that was approved by the U.S. Food and Drug Administration (FDA) in 2019 as a diabetes treatment, made from semaglutide, the same ingredient found in Wegovy.
A representative of Sam Chun Dang Pharm said, “The essence of developing the generic version of Rybelsus is not ‘to make it better,’ but to replicate it the same as the original while avoiding patents and entering the market faster than competitors.”