Samsung BioLogics, Celltrion stocks soar
[THE INVESTOR] The stock prices of Korean biologics companies Samsung BioLogics and Celltrion soared to new highs on Oct. 13, putting a spotlight on the biologics market.
On Oct. 13, Samsung BioLogics broke 400,000 won ($354) per share to reach a high of 411,000 won, setting a new record. The jump made the company the sixth-most valued stock on the Kospi bourse, up from 13th two days ago.
The sharp rise came after the biologics contract manufacturer announced Thursday that its second production plant in Songdo had been approved for commercial production by the US Food and Drug Administration.
Samsung BioLogics was trading at 388,500 won at market close, reaching eighth on the Kospi with a market capitalization of 25.7 trillion won.
Drugmaker Celltrion and its affiliate Celltrion Healthcare and Celltrion Pharm all reached 52-week highs Friday, continuing a rally that began when Celltrion announced it would be moving from the Kosdaq to the main Kospi bourse.
Celltrion Healthcare continued to rise on sales expectations. According to analyst Shin Jae-hoon of eBest Investment Securities, sales are expected to rise by an annual average of 42.1 percent until 2019 as the biosimilars Remsima and Truxima expand their market share. Celltrion’s Herzuma is also awaiting sales approval by the European Medicines Agency this year.
Celltrion Pharm, which broke 1 trillion won in market capitalization, rallied on projections of growth in the generic pharma market.
At market close, Celltrion was trading at 169,300 won, Celltrion Healthcare at 62,500 won and Celltrion Pharm at 34,050 won.
By Won Ho-jung/The Korea Herald (email@example.com)