Investor optimism about the pill version of weight-loss injectables being developed by Sam Chun Dang Pharm (SCD) in South Korea has fueled a rally in its shares, which are up by more than 75% so far this month. The stock surge has propelled Yoon Dae-in, the company’s chairman, into the billionaire ranks.

Yoon, who turns 76 in March, directly and indirectly owns 34% of the company’s shares. He also has a small stake in OPTUS Pharmaceutical, the eye-drop manufacturing arm of SCD. Forbes estimates Yoon’s net worth at $2.1 billion.

Based in Hyangnam, south of Seoul, SCD develops active pharmaceutical ingredients used in treatments for dry-eye disease and high blood pressure. The company also develops novel drug delivery systems, such as S-Pass, which turns injectable medicines into easy-to-take pills.

On Thursday, SCD announced that it had signed........

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