(Photo = SK Bioscience homepage)

 

[Alpha Biz= Reporter Kim Sangjin] SK Bioscience has sold a 1.6% stake in the American pharmaceutical company Novavax for 20 billion won. The move is interpreted as a profit-taking measure following a recent surge in Novavax's stock price.

According to industry sources on the 15th, SK Bioscience has sold 1,059,450 shares (1.6%) of Novavax for 20 billion won this year, with the sale price per share set at 18,877 won. As a result of this sale, SK Bioscience's stake in Novavax has decreased from 5.5% to 3.9%.

Previously, on August 10th of last year, SK Bioscience participated in Novavax's third-party allotment capital increase, acquiring a 5.5% stake (6.5 million shares) for 111.4 billion won. Founded in 1987, Novavax is a NASDAQ-listed company that developed the COVID-19 vaccine 'Nuvaxovid'. SK Bioscience has a strategic partnership with Novavax and has been involved in the contract manufacturing of COVID-19 vaccines, including Nuvaxovid. The investment last year was aimed at strengthening this strategic partnership. SK Bioscience is also expected to supply Novavax’s COVID-19 vaccine in the second half of this year.

 

 

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