Korea’s leading biosimilar company Celltrion, the largest company on the Kosdaq market, now outweighs the country’s top automaker and traditional industry bellwether Hyundai Motor in market capitalization.
On Monday, Celltrion’s stock price surged 13.34 percent to close at 302,500 won ($283), raising its total market cap to 37.10 trillion won, elbowing out Hyundai Motor with value of 33.26 trillion won.
The company’s stock price gained 55 percent over the past week, crossing the 300,000 won mark. Celltrion’s market value now ranks third behind Samsung Electronics and SK Hynix. When combined with other listed Celltrion companies, Celltrion Healthcare and Celltrion Pharm, the total market cap exceeds 55 trillion won, close to that of SK Hynix.
In contrast, Hyundai Motor lost its second position to SK Hynix in market cap in late 2014 and has since been slumping. Celltrion founded in February has pioneered the bilosimilar market with Remsima, Truxima and Herzuma. Celltrion has recently gained attention with an increase in foreign buying.
Celltrion is on track to be re-listed on the primary Kospi market early next month. The shift was requested by shareholders last September and a preliminary review for re-listing was submitted on Dec. 5.
Shares of Celltrion closed Tuesday down 3.31 percent at 292,500 won.
By Shin Heon-chul and Minu Kim
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