Samsung Biologics Rallies on Possible Moderna Covid-19 Vaccine Deal

   By Kwanwoo Jun 
 

Samsung Biologics Co.'s shares rallied Friday after local media reported that it has secured a deal to manufacture Moderna Inc.'s Covid-19 vaccines.

The South Korean biosimilar and vaccine maker's stock jumped as high as 9.1%, outperforming the broader Kospi's gain of more than 1%. Shares last traded 8.3% higher at KRW938,000 each.

Samsung Biologics said in a brief regulatory filing it couldn't confirm the report as no decision has been made, but it added that it may provide an update within one month, without elaborating on a potential deal with Moderna.

The Cambridge, Mass.-based biotech company hasn't commented on the report.

Samsung Biologics's Friday response contrasted with its flat denial two days ago of another local newspaper report on its possible contract-manufacturing of Pfizer Inc.'s Covid-19 vaccines. Pfizer, which jointly developed the vaccine with Germany's BioNTech SE, also denied the news report.

Samsung Biologics, which is affiliated with the Samsung Group conglomerate, has the world's largest single biologic drugmaking facility, according to market tracker BioPlan Associates.

Write to Kwanwoo Jun at [e-mail]

(END) Dow Jones Newswires

May 14, 2021 02:41 ET (06:41 GMT)

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