Korea Exchange (KRX) KOSDAQ Market Headquarters holds a KOSDAQ listing ceremony for Samik Pharmaceutical, a company that manufactures generic drugs for hypertension and other conditions and provides contract drug manufacturing, at its Seoul office PR center on the 27th. /Courtesy of Korea Exchange (KRX)

KOSDAQ-listed Samick Pharm fell in early trading on the 31st. After listing on the 27th and hitting the daily upper limit (the top of the daily price band) for four straight sessions, Samick Pharm appears to be seeing investor sentiment cool as pressure builds at the highs.

As of 9:17 a.m. that day, Samick Pharm was trading at 19,990 won, down 1,310 won (6.15%) from the previous session.

Samick Pharm, a drug manufacturing and contract production company, had shown strong gains since its listing. It closed at 21,300 won the previous day, surging 185% from the offering price of 7,480 won. However, the rapid share-price rise appears to have triggered profit-taking, pulling the stock down.

Meanwhile, Samick Pharm is a drug manufacturer established in 1973. Its main products include the cold medicine "Maparam," the children's supplement "Kiddy," and the motion sickness drug "Nosobomin."

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