Shares of Samsung BioLogics (207940.KS) ended lower on Monday, after rising 5.2% on the South Korean contract drugmaker’s deal to make Moderna’s COVID-19 vaccine (MRNA.O ), one of four such contracts announced in the country.
The companies have not given any details on how many vaccines will be manufactured under the “fill and complete” agreement that will run until 2022. This type of contract involves putting vaccines into vials or containers. syringes, sealing them and packing them for shipping, but not making the vaccine itself. Read more
It was also unclear whether the Moderna deal would mean faster access to more doses for South Korea, which has managed to give just 7.4% of its 52 million people at least one dose due supply problems.
US vaccine maker Novavax (NVAX.O) also reaffirmed its partnership with South Korean company SK bioscience Co Ltd (302440.KS) to expand vaccine production. SK stock rose 1.9% versus a market-wide drop of 0.3% (.KS11).
Samsung BioLogics slashed gains to close 0.4% lower, while shares of SK bioscience closed 0.9% higher against a 0.4% decline in the broader market (.KS11).
The announcements came after South Korean President Moon Jae-in visited US President Joe Biden, and the two leaders vowed to collaborate on vaccines.
Moon had hoped to return home with a “swap” deal with Washington to speed up access to US-made injections in exchange for domestic production more doses later, but he got vaccines for just 550,000. South Korean soldiers. Read more
South Korea had already reached an agreement with Moderna to purchase 40 million doses of its vaccine, but no timetable had been agreed.
The first batch of 55,000 doses of Moderna will arrive on May 31, the Korea Disease Control and Prevention Agency said on Monday, adding that the Ministry of Drug Safety would later decide who receives these doses.
Moon, whose approval ratings have slipped because of his handling of the pandemic, called the summit a success, saying the country’s vaccination partnership with the United States will help turn it into a “vaccination center.” “.
âBest tour ever and best reunion ever,â he tweeted.
“The announcement that the United States would send us vaccines, in addition to the ‘Vaccine Partnership’, was literally a surprise.”
But the South Korean opposition denounced Moon for “paying in cash, but coming back with just a promissory note.”
“How did we become a country that is moved to tears with vaccine aid for only 550,000 US troops?” Daegu Mayor Kwon Young-jin said on Facebook.
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