In today’s briefing:
- SK Square: Will Alibaba Acquire 11st?
- SK Bioscience (302440 KS): Flu Vaccine Output Resumes; Next-Gen Typhoid Vaccine Is On Card
SK Square: Will Alibaba Acquire 11st?
- Maeil Business Daily reported that Alibaba Group Holding (9988 HK) is considering on acquiring a controlling stake in 11st, which is a leading e-commerce platform owned by SK Square
- In 2018, 11st was valued at 2.7 trillion won by financial investors. However, the current valuation of 11st is estimated to have declined to about 1 trillion won (US$760 million).
- We estimate that the probability of Alibaba acquiring 11st is about 60-70%.
SK Bioscience (302440 KS): Flu Vaccine Output Resumes; Next-Gen Typhoid Vaccine Is On Card
- SK Bioscience (302440 KS) resumed flu vaccine shipment for 2023–24 flu season. The company temporarily stopped the production of flu vaccine to focus on the supply of COVID-19 vaccine.
- In August 2023, SK Bioscience has entered joint development agreement with Australia-based privately held biotechnology company Vaxxas to develop a second-generation needle-free patch delivery of typhoid conjugate vaccine.
- The company’s successful phase 2 clinical trial for first-in-class pneumococcal conjugate vaccine (PCV20+) in pediatric market is a step toward entry to the premium vaccine market.
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