Samchundang Pharmaceutical witnessed a remarkable surge in its stock price, soaring by 29.94% and 26.37% on March 25th and 26th, respectively. This significant upswing came in response to the company's announcement of securing a European supply and sales contract for its age-related macular degeneration (AMD) therapy biosimilar. The contract entails the exclusive distribution of its biosimilar, SCD411, derived from the AMD therapy drug 'Aflibercept', to nine European nations including the UK and Belgium. Notably, details regarding the contract partner and milestones remain undisclosed due to business confidentiality.

In addition to the European contract, Samchundang Pharmaceutical unveiled another strategic move during the Global Pharmaceutical Industry Conference (DCAT) in New York, held from March 18th to 21st. The company revealed the signing of an exclusive sales term sheet for its oral GLP-1 obesity and diabetes treatment in the United States. Subsequently, news surfaced regarding the finalization of an exclusive sales agreement with a US-based global pharmaceutical company for US distribution rights.

The culmination of these developments fueled investor optimism, leading to a notable surge in Samchundang Pharmaceutical's stock price over the two-day period on March 25th and 26th. Consequently, the company was designated as a speculative stock on March 28th, prompted by its closing price exceeding a 60% rise compared to the previous five days' closing price.