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Samsung BioLogics shares rise after agrees to make Moderna COVID-19 vaccine

Shares in South Korean drug contract manufacturer Samsung BioLogics rose as much as 5.2per cent in early Monday trade, after it agreed to fill-finish manufacture Moderna's COVID-19 vaccine.

FILE PHOTO: SOMOS Community Care administers Moderna COVID-19 Vaccine at pop-up site in New York
FILE PHOTO: SOMOS Community Care administers Moderna COVID-19 Vaccine at pop-up site in New York

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SEOUL: Shares in South Korean drug contract manufacturer Samsung BioLogics rose as much as 5.2per cent in early Monday trade, after it agreed to fill-finish manufacture Moderna's COVID-19 vaccine.

The agreement was part of Moderna Inc and Novavax Inc entering into a deal with the South Korean government to manufacture their COVID-19 vaccines.

The wider market was down 0.2per cent as of 0007 GMT.

(Reporting by Joyce Lee; Editing by Tom Hogue)

Source: Reuters