S.Korea's Yuhan Corp jumps almost 30 pct on deal with Janssen Biotech
05/11/2018 24:58
** Shares of Yuhan Corp 000100.KS jump nearly 30 pct after
the drugmaker signs a technology transfer contract with U.S.
biotechnology company Janssen Biotech Inc
** The $1.255 billion deal is the largest ever in local bio
industry, Lee Tal-mi, analyst at SK Securities, says, noting the
contract will boost local bio stocks .KS32
** The co will receive a $50 million down-payment and a
further $1.255 billion gradually following development and
approval of anticancer drug EGFR
** Local drugmaker Oscotec 039200.KQ , which will receive
40 pct of the technology transfer amount and royalty, surges as
much as 30 pct
** The broader KOSPI .KS11 was trading down 1.3 pct as of
1240 GMT
((hayoung.choi.thomsonreuters.com@reuters.net))