Shares of JW Pharma gained by their daily permissible high of 30 percent Tuesday afternoon on news that the U.S. Food and Drug Administration (FDA) has approved a phase 3 study of Actemra (tocilizumab), an autoimmune disease med, for which the South Korean pharmaceutical firm holds marketing rights in the Korean market, to be developed as a COVID-19 cure.
JW Pharma shares finished the day at 25,500 won ($20.3), the daily ceiling.
Swiss healthcare company Roche said its Actemra already approved for use in the U.S. to treat rheumatoid arthritis may also be able to relieve similar inflammations caused by cytokine storms in patients infected with the coronavirus.
In early March, China listed Actemra in its treatment guidelines for patients severely ill from COVID-19.
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