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[Alpha Biz=(Chicago) Reporter Paul Lee] Shares in SamChunDang Pharm, which won exclusive contracts in nine European countries, are on the rise

SamChunDang Pharm hit an upper limit on news that it has signed exclusive SCD411 supply contracts with nine countries.

At 9 am on the 25th, Samcheondang Pharmaceutical is trading at 111,100 won, up 25,600 won (29.94%) from the previous trading day.

As SamChunDang Pharm soared to the top of the price limit at the beginning of the market, its market capitalization also jumped nine notches. Samcheondang Pharmaceutical, which ranked the top 20 in KOSDAQ market capitalization as of the 22nd, is currently ranked 11th.

SamChunDang Pharm announced on the 22nd that it has signed an exclusive supply contract with nine European countries, including Britain and Belgium, for the Irish biosimilar (SCD411). The counterparty of the contract is closed to the public.

According to the contract, Samchundang Pharmaceutical receives 55% of its partner company's total sales. Milestones (step-by-step technical fees) are received when certain conditions are met.

The contract period is 10 years from the date of sale of the product. It is automatically renewed every five years from the end of the contract period of 10 years.

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