February 7, 2013 / 1:00 AM / 5 years ago

Korea Hot Stocks- Stem cell drugmaker surges on China nod

SEOUL, Feb 7 (Reuters) - South Korea’s main KOSPI share index was up 0.4 percent at 1,944.69 as of 0049 GMT. The index opened up 0.17 percent.

Stocks on the move on Thursday include:


Biopharmaceutical company Pharmicell surged for the second day after some of its products got approval from China’s State Food and Drug Administration (SFDA).

Pharmicell shares rose 7.5 percent in early trade. They had shot up to the daily ceiling of 15 percent on Wednesday.

Pharmicell has been looking to enter China, where it sees demand for its stem cell-derived eye-creams and skin lotions.

A spokeswoman for the company said it has been actively looking for a Chinese partner with solid distribution channels, but that nothing has been decided yet.

Reporting by Somang Yang; Editing by Jijo Jacob

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