Samsung Biologics stock up despite denial of making Pfizer vaccine

[Photo by Samsung Biologics Co.]

Shares of Samsung Biologics Co. stayed strong Wednesday despite its denial that it would be consigned to produce Pfizer’s Covid-19 vaccine from August.

They had jumped to 864,000 won ($768) from previous closing of 817,000 won and stayed near 4 percent higher at 847,000 after noon even as the company disclosed the report was “untrue” before the market opened. The stock closed Wednesday at 856,000, up 4.77 percent.

Stocks of drug CMOs have been going strong since the domestic health authority said negotiations were underway with a certified vaccine maker and a Korean drug name capable of producing vaccines to initiate manufacturing as early as August without naming the foreign or local party.

The media report on Tuesday named Samsung Biologics and Pfizer with production beginning as early as August to ship out at least 1 billion doses annually. The supplies will go to Korea and other parts of Asia. The report claimed Samsung Biologics was renovating No. 3 plant in Songdo, Incheon, to accommodate Covid-19 vaccine production. The plant has production capacity of 180,000 liters, the world’s largest as a single bioreactor.

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