Domestic bio stocks were down during morning trading on the 24th. The pullback is seen as fallout from global investment bank (IB) UBS lowering its outlook for the size of the obesity drug market.
Peptron shares were trading at 281,000 won on the KOSDAQ market at 11:28 a.m. that day. The stock fell 8.77% (27,000 won) from the previous day. At the same time, OliX Pharmaceuticals and D&D Pharmatech were also logging declines in the 8% range. Elsewhere, "sell" orders were continuing across healthcare, pharmaceuticals, and bio names overall.
UBS on the day set its 2030 global glucagon-like peptide (GLP)-1 sales outlook at $130 billion (about 180 trillion won). It cut the previous forecast by $20 billion (about 28 trillion won).
UBS said that while GLP-1 is expected to show significant scalability in tandem with the obesity treatment field, it lowered its sales outlook due to factors such as falling product prices.