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Celltrion to supply COVID-19 antibody therapy to 9 European countries

Author : Pankaj Singh | Published Date : 2021-12-01 

South Korean biopharma company Celltrion has reportedly signed agreements with nine European countries to provide Regkirona (regdanvimab), a monoclonal antibody therapy for COVID-19.

The European Commission in November granted the drug marketing authorization for adults infected with the virus who are at a high risk of suffering from a severe condition. In the same month, the Peruvian regulator also granted Regkirona conditional approval.

While the South Korea-based firm is in talks with 47 other economies such as the Middle East, Asia, Central, and South America, the first shipment of 50,000 doses of the antibody will be made to Europe this year, sources cited.

As of last week, roughly 25,000 local COVID-19 patients have received the antibody treatment that was first approved in South Korea.

It is to be noted that monoclonal antibodies produced in the lab can combat infections in the same way as natural antibodies do. They are different from vaccines as they do not depend on the body to produce an immunological response, therefore, they can aid those with weak or damaged immune systems.

Given the increasing COVID-19 cases and exhaustion pace of the initial supply, Celltrion Healthcare expressed they expect the countries to order additional Regkirona vials this year itself.

However, investors do not seem thrilled despite the latest developments in Regkirona supply and licensing. The company received an unenthusiastic response from the stock market, with the Celltrion stock closing at 207,000 won (USD 175.1) on Tuesday, similar to that before the European approval.

Celltrion Pharm and Celltrion Healthcare shares also remained sluggish on the same day, ending at 120,000 won (USD 101.86) and 81,000 won (USD 68.76), respectively.

Analysts suggest that since investors no longer expect Celltrion to benefit from the COVID-19 pandemic and it should rebuild market confidence with earnings from its original business of biosimilars.

Source Credit-

https://health.economictimes.indiatimes.com/news/pharma/celltrion-signs-covid-19-antibody-therapy-supply-deals-with-europe/87996982

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

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