Ahead of the world's largest bio investment event, the 'JP Morgan Healthcare Conference,' Samsung Biologics has recovered its stock price to 1 million won.
According to the Korea Exchange on the 8th, as of 9:22 a.m., Samsung Biologics was trading at 1 million and 1,000 won, up 18,000 won (1.83%) from the previous trading day. It has traded in the 1 million won range for two consecutive days, reclaiming its title as a top stock.
The previous day, Samsung Biologics closed at 983,000 won, up 3.91% from the previous close. The stock started with an increase of 0.53% and reached as high as 1 million and 5000 won, maintaining its upward trend.
Samsung Biologics will present its business plans and mid- to long-term vision at the JP Morgan Healthcare Conference in the U.S. from the 13th to the 16th (local time), where CEO John Rim will introduce the background of the company's growth. Additionally, during the event, there will be investor meetings to promote its contract development and manufacturing organization (CDMO) competitiveness and strengthen networking for business expansion.
The decision by Chinese contract development and manufacturing organization (CDMO) firm Wuxi Biologics to sell its vaccine facility in Ireland is seen as a reflection of the domestic industry's expectations for equivalent benefits, especially as the U.S. is drafting a biosecurity law (Biosecure Act) that designates leading Chinese bio companies as security threats.