[E-Daily Reporter Hyera Lee ] Hyundai pharm is up by more than 14% in early trading. This is believed to be due to a surge in buying interest following recent remarks by President Lee Jae-myung.
According to MP Doctor on the 16th, Hyundai pharm(004310)is trading at 7,690 won, up 14.61% from the previous trading day.
This appears to be the result of investor sentiment being stimulated by President Lee Jae-myung’s remarks at the Cabinet meeting on the 14th regarding the need for proper use of “Mifegymiso” (Mifegyn), a medication used for early-stage abortions.
Mifjin, an oral abortion medication, is a drug for which Hyundai pharm signed a domestic licensing and exclusive supply agreement with the British pharmaceutical company Linepharma International in 2021.
The Ministry of Food and Drug Safety (MFDS) has previously rejected Mifjin’s approval on several occasions. This marks the third time Hyundai pharm has applied to the MFDS for product approval for Mifegymiso. Hyundai pharm most recently submitted its application for product approval to the MFDS in December 2024.
Some observers suggest that President Lee’s recent remarks may accelerate the domestic marketing authorization process for Mifjin. The Ministry of Food and Drug Safety is currently reviewing the drug and plans to begin discussions on the matter. The Ministry of Food and Drug Safety stated, “While there are certain licensing requirements—such as efficacy and safety management plans—for which approval review is only possible once the legal amendments permitting drug-induced abortion and the permissible timeframe for abortion are established by law, we plan to discuss this with relevant ministries, including the Ministry of Gender Equality and the Ministry of Health and Welfare.”