In early trading on the 27th, Sam Chun Dang Pharm jumped 9%. The news that it signed a technology transfer deal worth 5.3 trillion won for an oral "Wegovy" across 11 European countries the previous day is seen as boosting investor sentiment.
As of 9:13 a.m. that day on the KOSDAQ market, Sam Chun Dang Pharm was trading at 832,000 won, up 75,000 won (9.91%) from the previous session. It traded at 872,000 won intraday, setting a 52-week high.
The previous day, Sam Chun Dang Pharm said it signed an exclusive license and commercialization master agreement with a Europe-based global pharmaceutical company for a generic oral Wegovy. According to the company, the total value of the deal is 5.3 trillion won, and it will receive a total of 50.8 billion won in upfront and milestone payments (stage-based fees). It also finalized a profit-sharing structure under which it will receive 60% of net profit from product sales.
With the technology transfer news breaking the previous day, Sam Chun Dang Pharm closed at the upper price limit.