Samchundang Pharmaceutical Stock Plummets 29.92% in One Day After FDA Pre-ANDA Disclosure

According to Korea Exchange, Samchundang Pharmaceutical's stock plunged 71,500 Korean won (29.92%) on July 21 to close at 167,500 won, reversing gains from the previous day's limit-up close at 239,000 won.

The sharp reversal followed the company's announcement that it received a Pre-ANDA response letter from the U.S. FDA regarding its oral semaglutide generic application. However, Samchundang cited confidential business information as reason for not disclosing the full FDA letter contents, triggering market uncertainty and driving aggressive selling.