Investors seek a dose of vaccine counters
KUALA LUMPUR (Nov 10): Pharmaceutical stocks, particularly those tapped by the government to repackage and distribute a potential Covid-19 vaccine in Malaysia, saw gains this morning.
Shares in Pharmaniaga Bhd rose by as much as 10.06% this morning to an intra-morning high of RM5.80 per share. As at 10.57am, its shares moderated their gains, to trade 3.61% or 19 sen higher at RM5.46, valuing the counter at some RM1.43 billion. It saw 3.76 million shares transacted, exceeding its 200-day trading average volume of 2.33 million.
Meanwhile, Duopharma Biotech Bhd was up by as much as 9.23%, reaching an intra-morning high of RM4.38. The counter also pared its gains to trade 3.49% or 14 sen higher at RM4.15, valuing it at RM2.93 billion.
In July, Science. Technology and Innovation Minister Khairy Jamaluddin said the two companies will undertake the fill and finish process of a Covid-19 vaccine.
Other companies that announced vaccine ventures also posted gains today. Bintai Kinden Corp Bhd was the 10th most actively traded counter on Bursa Malaysia this morning with 65.74 million shares changing hands. It was up by 4.17% or three sen at 75 sen apiece.
Last week, Bintai Kinden announced that its partner Generex Biotechnology Corp signed a framework agreement for the development and commercialisation of the Ii-Key-SARS-CoV-2 coronavirus vaccine in China.
Meanwhile, Ho Wah Genting Bhd was up by 3.13% or 2.5 sen at 82.5 sen, valuing it at some RM434.55 million.
Late last month, the group announced that its joint venture partner, E-MO Biology Inc, has received approval from the US Food and Drug Administration to carry out phase IV clinical trials for a polio virus vaccine against Covid-19.
Meanwhile, Kanger International Bhd, which has inked distribution agreements for Covid-19 vaccines in Malaysia, was up by 2.63% or half a sen at 19.5 sen, valuing it at RM357.31 million. It saw 266.67 million shares transacted, making it the third most active stock at the time of writing.
The rise in vaccine-linked counters comes after Pfizer made an overnight announcement that its Covid-19 vaccine candidate had a more than 90% efficacy rate with no serious concerns based on the initial trial results.
Pfizer is hoping to ship out up to 50 million doses this year for 25 million people and produce 1.3 billion doses in 2021.
http://www.theedgemarkets.com/article/investors-seek-dose-vaccine-counters
