Biopharmaceutical company Vivasun Pharmaceutical is strong in early trading on the 5th. The increased buying interest is interpreted as news that their domestic No. 38 new drug, Anafraju, a non-narcotic analgesic, will enter the Chinese market through technology export.
As of 9:24 a.m. on that day, Vivasun Pharmaceutical was trading at 8,080 won, up 610 won (8.17%) from the previous trading day.
The rise in stock prices is interpreted as being influenced by reports that Vivasun Pharmaceutical will sign a technology export contract for Anafraju with a Chinese pharmaceutical company in the first half of this year after market close the previous day. The company is said to expect to receive an amount of 50 billion won through the contract money and initial milestones. Depending on the contract terms, additional milestones may be received. After this news was announced, Vivasun Pharmaceutical surged 9.91% in after-hours transactions the previous day.
Vivasun Pharmaceutical's Anafraju is a non-narcotic analgesic injection used for controlling moderate to severe acute pain after surgery. Vivasun Pharmaceutical secured statistical significance in domestic Phase 3 clinical trials involving patients after laparoscopic colon resection and received approval for Anafraju as domestic No. 38 new drug from the Ministry of Food and Drug Safety in December last year.