Alteogen jumps 9% after FDA approves Merck Keytruda Qurex

Alteogen is rising sharply in early trading on the 22nd on news that the subcutaneous formulation of the immuno-oncology drug "Keytruda Qurex" has received approval from the U.S. Food and Drug Administration (FDA).

As of 9:14 a.m. on the day, Alteogen was trading at 518,000 won, up 45,500 won (9.63%) from the previous session.

Alteogen said on the 21st that Merck (MSD) in the United States received FDA approval for Keytruda Qurex. Keytruda Qurex is known to incorporate Alteogen's human hyaluronidase technology.

Keytruda Qurex has the advantage of being easier to administer than the existing intravenous formulation. With sales of Keytruda Qurex, expectations are that Alteogen will earn more than 1 trillion won in annual royalty income.