Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
SpaceX Edges Toward Landmark IPO as Elon Musk Confirms Plans 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Celltrion, the South Korean pharmaceutical company, revealed that it had sealed its first deal for shipments of its Rekirona COVID-19 antibody treatment. The firm made the announcement on the supply transaction to Pakistan on Monday, May 10.
Celltrion’s Healthcare division will be managing its overseas business, so it was the company affiliate that signed the deal with Pakistan’s state-run company. The first order is for the shipment of 100,000 vials of Rekirona, which is enough for 30,000 people.
Rekirona receives approval from S. Korea’s drug safety board
As per The Korea Herald, once the vials of the COVID-19 antibody treatment have been delivered, Celltrion will also send its experts to Pakistan so they can train the local medical healthcare providers who have been assigned to administer the treatment.
In February, Celltrion’s Rekirona already received conditional approval from the drug safety board in S. Korea. With that, the medication effectively became the first locally-made treatment for coronavirus.
The treatment has been given to around 2,700 high-risk patients, which include individuals who are over 60 years of age. People with chronic diseases that affect the respiratory system were also administered with Rekirona earlier this year, and the results seem promising, or it will not be approved.
Celltrion already completed the third phase of clinical trials that was conducted in 13 countries with 1,300 volunteers. Aside from S. Korea, some of these nations are the U.S. and Spain. Now, the pharma company is hoping that its Rekirona will be able to help stop the growing number of patients in Pakistan.
Celltrion starts global rollout of its COVID-19 treatment
Yonhap News Agency reported that it is not just Pakistan that will have Celltrion’s Rekirona as there are also ongoing negotiations for supply to Europe, U.S., and more. The exports will start in Pakistan, and the distribution will eventually spread to other nations.
"Talks are also currently underway to export Rekirona to other countries in Europe and South America, as well as India," an official from Celltrion said. Meanwhile, two other pharmaceutical companies are developing similar monoclonal antibody treatment, and these are the US-based Regeneron and Eli Lilly. These are still under clinical tests, so it makes Celltrion the first to make a COVID-19 treatment available globally.
