Following a decisive victory for the Democratic Party in the U.S. midterm elections, expectations for healthcare cost reduction policies have led to a strong performance in the domestic stock market, particularly among pharmaceutical and biotech stocks.
As of 9:15 a.m. on November 5, the Korea Exchange reported that Celltrion was trading at 212,500 won, up 6.25% (12,000 won) from the previous trading day. Celltrion Healthcare also saw a rise of 5.94% (2,100 won), trading at 40,000 won.
Samsung Biologics was up 3.55% (54,000 won), trading at 1,548,000 won.
The Kosdaq market also showed strong performance among pharmaceutical and biotech stocks. At the same time, Alteogen was trading at 225,000 won, up 8.33% (17,000 won) from the previous day, while Rigakem Bio (11.28%) and ABL Bio (11.96%) also exhibited strong early gains.
The surge in pharmaceutical and biotech stocks is attributed to the Democratic Party's Medicare pledge, which positions South Korean biosimilar companies as direct beneficiaries.
Analysts in the securities industry suggest that if the Democratic Party implements healthcare cost reduction policies, the competitiveness of exporting affordable South Korean alternative medicines could increase.
* This article has been translated by AI.
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