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[Alpha Biz=(Chicago) Reporter Kim Jisun] LegoChem Bio, which recently announced a technology transfer worth 2.24 trillion won to Janssen, continued its surge following the previous day. On the 26th, when the news of technology transfer was announced, it rose 10.38% and continued to rise.
As of 3 p.m. on the 27th, LegoChem Bio is trading at 61,800 won, up 7.67% from the previous day's closing price.
The move comes after news on the previous day that LegoChem Bio signed a $1.7 billion technology export contract with Janssen, a subsidiary of U.S. pharmaceutical company Johnson & Johnson.
On the 26th when the contract was announced, LegoChem Bio closed at 57,400 won on the KOSDAQ market, up 10.38% from the previous day's close. Foreigners and institutions sold KRW 8 billion and KRW 54 billion, respectively, while individuals bought KRW 64.8 billion, driving the share price hike.
This technology export of LegoChem Bio is the largest ever for a single material standard contract of a domestic pharmaceutical and bio company. The advance payment amounts to USD 100 million (about KRW 130 billion), which is based on technology value and is not obliged to return even if the contract is changed or destroyed.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
