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Peptron, HLB Stocks Plunge Over 28% on July 10 as Eli Lilly Deal Doubt, FDA Rejection Hit South Korean Biotech

GateNews
Stocks
Peptron-29.94%
HLB-29.88%
According to Korean Economic TV, South Korean biotech companies Peptron and HLB experienced sharp declines on July 10 as major setbacks undermined investor confidence. Peptron stock fell 28.63% to 113,700 won on statements from CEO Choi Ho-il that the company's joint research with Eli Lilly does not involve tirzepatide, contradicting market expectations that the technology would be applied to Mounjaro obesity treatment. HLB hit the daily limit-down price of 36,600 won after its partner company reported receiving a Comprehensive Response Letter from the U.S. FDA regarding the cancer drug ribociclib, citing manufacturing facility deficiencies from partner Hangsu Pharmaceuticals rather than clinical data issues.
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