Celltrion researchers.  (provided by Celltrion)

Bio-Health 株 side by side ‘bullish closing’ Why?… On the news of fostering the ‘biohealth Hallyu era’

Celltrion researchers. (provided by Celltrion)

Bio-health-related stocks closed higher on April 26 on the news that the new government will support the bio-health sector.

In particular, the strength of the three Celltrion brothers (Celltrion, Celltrion Healthcare, and Celltrion Pharm) was outstanding. Celltrion finished the transaction at 168,000 won, up 8.04% from the previous trading day, while Celltrion Healthcare and Celltrion Pharmaceutical also rose 6.41% and 5.78%. In addition, bio-health-related stocks such as SK Bioscience, UBcare and Selvas Healthcare rose 1.1%, 1.3%, and 1.26%, respectively. It is interpreted that the rise of the Yun Seok-yeol government was influenced by the government’s goal of opening the ‘bio-health Hallyu era’ by taking the lead in the bio-health sector as a future food.

At the briefing of the Transition Committee in Tongui-dong, Seoul on the 25th, Baek Kyung-ran, a transition committee member of the Social Welfare and Culture Division of the Presidential Transition Committee, said, “We have decided to establish a ‘Pharmaceutical and Bio Innovation Committee’ to create an environment in which Korean bio-health companies can take off.” The new government plans to strengthen the system of collaboration between basic researchers, hospitals, companies, and related ministries through the Innovation Committee. It will also operate a ‘regulatory sandbox’ for new products and services to train key personnel and improve regulations.

In addition, the transition committee included fostering the digital health care industry as a national task. The plan is to create bio-big data for 1 million people, open it up to the private sector, and spur the development of medical technology by establishing clinical networks with major hospitals and diseases. It also includes a plan to build a medical my data platform to collect health information in one place so that users can easily access their health information. When raised concerns about privacy violations related to the MyData platform, transfer committee member Baek replied, “We will strengthen the legal basis to increase safety.”

On the same day, President-elect Yoon Seok-yeol personally visited SK Bioscience’s headquarters to congratulate the Phase 3 vaccine clinical trial and announced that he would proactively support companies that develop vaccines and treatments for COVID-19. President-elect Yoon said, “We will spare no effort in providing all the support that the government can provide.” “There are areas that public officials are not familiar with, so if business owners say, ‘These regulations are very disruptive to business and national competitiveness, please solve them,’ so that there is no inconvenience. I will,” he said.

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