Moderna Boss Talks Make Pharmaceutical Stocks Fly

Jakarta, CNBC Indonesia – Pharmaceutical stocks managed to close in the green zone in today’s trading, Tuesday (30/11/2021), after having had a slipped into the red zone in early trading this morning. With this, pharmaceutical stocks continued their rise on Monday (29/11).

The increase in pharmaceutical stocks was still driven by news of the emergence of a new variant of Covid-19 called Omicron which is still a concern for investors.

Although overall this sentiment tends to be negative for the market, in particular the health sector tends to benefit so that the share price of the issuer tends to increase.

The health sector index (IDXHEALTH) managed to gain 0.25% today, after weakening this morning.

The following is the strengthening of pharmaceutical stocks, based on data from the Indonesia Stock Exchange (IDX).

  1. Phapros (PEHA), shares +11.16%, to Rp 1,295/share

  2. Itama Ranoraya (IRRA), +10.40%, to Rp 2,070/share

  3. Pyridam Farma (PYFA), +9.05%, to Rp 1,145/share

  4. Kimia Farma (KAEF), +6.61%, to Rp 2,740/share

  5. Merck (Brand), +3.68%, to Rp 3,660/share

  6. Indofarma (INAF), +2.80%, to Rp 2,570/share

KAEF’s subsidiary, PEHA, led the 11.26 percent increase with a transaction value of Rp 7 billion. Yesterday, PEHA shares rose 1.75%.

Below PEHA’s shares, there is IRRA’s shares, which jumped 10.40% with a jumbo transaction value of Rp 115.54 billion, after rising 9.33% on Monday.

SOE stock duo KAEF and INAF are also compact, up 6.61% and 2.80% today. Yesterday, the two stocks rose 6.64% and 6.38% respectively.

Different from pharmaceutical stocks, RS management stocks tend to be red today. Take for example, among the 4 main hospital stocks that fell, the shares of Siloam Hospital management PT Siloam International Hospitals Tbk (SILO) which fell to the upper and lower rejection limit (ARB) of 6.78%.

However, 3 shares of RS owners managed to rise today, one of which was PT Royal Prima Tbk (PRIM) which jumped 13.90%.

The Composite Stock Price Index (JCI) fell 1.13% to 6,533.93 today. Actually, JCI moved in the green zone during the first session, but starting from the second session, the JCI suddenly fell.

Previously, on Friday (11/26), global exchanges, including Indonesia, experienced a massive sell-off following the news about the new strain of Covid-19 Omicron.

Today’s development news about strain The latest Covid-19 has again become a ‘ghost’ that is feared in the market. The latest development came from Moderna CEO Stéphane Bancel who said that the current vaccine was deemed less effective against the Corona Omicron strain.

“There is no world, I think, where (effectiveness) is on the same level as Delta,” Moderna CEO Bancel told the Financial Times in an interview.

Bancel added, “I think it’s going to be a material drop. I don’t know how much because we need to wait for the data. But all the scientists I spoke to… were like ‘this isn’t going to be okay'”.

The Moderna boss’ comments come as public health experts and politicians try to strike a more optimistic tone about the effectiveness of existing vaccines to protect against Omicron.

The WHO said the Omicron variant of the coronavirus was likely to spread internationally, posing a “very high” global risk associated with a spike in infections that could have “severe consequences” in some areas.

The WHO said it could take weeks to understand how the variant could affect diagnostics, therapy and vaccines. However, preliminary evidence suggests this variant can re-infect.

Omicron is believed to have first appeared in Botswana. However, it then developed in communities in South Africa (South Africa) until it was finally reported by scientists for the first time last week.

Outside Africa, cases of Covid-19 Omicron were found in a number of countries such as the UK, France, Israel, Belgium, the Netherlands, Germany, Italy, Australia, Canada and Hong Kong. A number of countries impose restrictions on international traffic because of this.

CNBC INDONESIA RESEARCH TEAM

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