Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
FAA Unveils Flight Plan 2026 to Strengthen Aviation Safety and Workforce Development 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
HSBC’s $13.6 Billion Take-Private Offer for Hang Seng Bank Gains Board Backing 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Genexine, the South Korean biotechnology company, is said to have made a deal with PT Kalbe Farma, an Indonesian pharmaceutical firm. The contract is about the supply of 10 million doses of the COVID-19 vaccine that it is currently developing.
The vaccine supply deal
The information about Genexine’s agreement with the Indonesian pharma was reported on Tuesday, April 27. While the Korean company is not done yet with the clinical tests for its vaccine brand, PT Kalbe Farma is confident enough for its effectiveness since it already placed an order.
But then again, The Korea Herald pointed out that the deal is not fully done yet. This is because the sale will only be possible if the government of Indonesia will approve the Genexine vaccine for emergency use.
Once everything is ironed out, the purchase of 10 million doses of coronavirus vaccine that Genexine named GX-19NA will be finalized. At this point, it was mentioned that the shot is still in the second phase of the clinical trial. A third one is expected to follow soon.
After the purchase, it was reported that Genexine will be receiving royalties based on sales of the vaccine through PT Kalbe Farma.
Phase 3 of the clinical trial
Genexine and PT Kalbe Farma have submitted applications for the second and third stages of the trials to the Indonesian Food and Drug Authority. The latter will be funding the cost of the clinical studies and since this is the arrangement, Genexine will not be given a downpayment for the order of 10 million doses, Korea Bio Med reported.
They also forwarded an application for an investigational new drug (IND) to the Indonesia National Agency of Drug and Food Control. It has been almost a month since the submission and they are waiting for approval.
"Indonesia has faith in the safety and efficacy of GX-19N, promised to conduct the joint clinical trials, and pre-ordered the vaccine candidate," Woo Jung Won, Genexine’s chief executive officer, said. "We will provide a safer Covid-19 vaccine for Indonesia and Korea through the successful development of GX-19N."
Meanwhile, no serious adverse effects were noted in the clinical trials that have been done so far.
