[Photo by JW Holdings]
JW Holdings shares rose Friday morning after the Korean pharmaceutical company announced its antibiotics for respiratory troubles will be exported to Luxembourg and South Africa under an emergency procedure to treat COVID-19 patients.
The stock price was up 2.21 percent to trade at 5,550 won ($4.52) at 9:35 am in Seoul.
The company’s product to be exported to Luxembourg is JW Levofloxacin Inj., a quinolone effective in calming respiratory inflammation. The emergency supply is made at the request of Luxembourg Trade & Investment Office Seoul and shipment begins on May 19.
In addition, JW Holdings won an emergency state bid in South Africa in cooperation with local partner Austell Laboratories, becoming eligible to increase the shipment of Prepenem Inj. (imipenem) to the country where demand for carbapenem-based antibiotics is surging.
The company said it will additionally supply twice the annual amount of Prepenem exports contracted previously.
Prepenem is the world’s first generic of imipenem used for the treatment of severe infections such as pneumonia and intra-abdominal infection.
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