Alteogen $tru
$XAU Why are shares falling sharply today?
Alteogen shares fell 15.9% during today's session, trading at 168,600 Korean won, after the U.S. Centers for Medicare & Medicaid Services (CMS) issued its final rules for drug price negotiations. This raised investor concerns that the rules could undermine the intrinsic value of the company's Hybrozyme platform, its technology for converting intravenous drugs into formulations that can be injected under the skin.

CMS published its final rules for drug price negotiations on 05/11/2024. They state that drugs whose method of administration is changed—for example, from intravenous to subcutaneous—may be classified as the same original product when determining their eligibility for price negotiations.

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