[THE INVESTOR] Total accumulated exports of Celltrion’s Remsima, a biosimilar version of Johnson & Johnson’s Remicade, have exceeded 1 trillion won (US$890 million), the South Korean drug maker’s overseas marketing affiliate Celltrion Healthcare said on Oct. 19. It took four years for Celltrion to reach the figure since the pharmaceutical firm shipped the first batch of its rheumatoid arthritis treatment drug Remsima in 2012. “The exports of Remsima are expected to rise at a faster clip if the d

Oct. 19, 2016

[THE INVESTOR] The planned initial public offering of Samsung BioLogics could value the firm at up to 10.5 trillion won (US$9.34 billion), exceeding the upper end of the price band, a local securities company said on Oct. 19. “Given that the market for biopharma contract manufacturing organizations is rapidly growing and its first and second plants have won sufficient orders until 2022, Samsung BioLogics will be able to reach the upper end of the price range,” said Kim Tae-hee, an analyst at Hyu

Oct. 19, 2016

[THE INVESTOR] LG Chem, South Korea’s top chemicals firm, reported a 15.6 percent fall in quarterly operating profit and slowing sales due to the local currency’s increase compared to the U.S. dollar and seasonal factors, the company said in a regulatory filing on Oct. 18. The company logged an operating profit of 460.91 billion won (US$407.10 million) in the third quarter ended on Sept. 30. Its revenue decreased 2.4 percent to 5.54 trillion won from a year earlier.Source : LG Chem to post Q3, 2

Oct. 18, 2016

[THE INVESTOR] South Korea’s three largest pharmaceutical companies are expected to report double-digit percentage fall in operating profit in the third quarter as they beef up spending on research and development, data showed on Oct. 18. The operating profit of Hanmi Pharmaceutical, Yuhan and Green Cross are estimated to have plunged between 11 to 60 percent in the quarter ended Sept. 30, compared with a year ago, according to market data provider FnGuide. Hanmi is forecast to see the largest d

Oct. 18, 2016

[THE INVESTOR] Teva Pharmaceutical Industries, an Israeli genetic drug maker, plans to commercialize two oncology biosimilar candidates developed by South Korean firm Celltrion before 2020 in the US and Canada. Earlier this month, Teva has sealed an exclusive rights deal to commercialize Celltrion’s phase III biosimilar candidates -- CT-P10 and CT-P6 -- and the Korean firm planning to request permits from the US and Canada in 2017.“We expect both products to be within the initial wave of biosimi

Oct. 17, 2016

[THE INVESTOR] Samsung Electronics (“A1” stable) announced on Oct. 11 that it would cease production and was recalling its latest smartphone, the Galaxy Note 7, because of faulty batteries that were causing handsets to burst into flames. The production halt and associated product recall are credit negative, but we expect Samsung’s strong financial profile to continue to support its “A1” rating and stable outlook. Samsung launched the Galaxy Note 7 in mid-August and announced a recall in Septembe

Oct. 17, 2016

[THE INVESTOR] South Korean chemicals firm LG Chem said Sunday that it will drive up production of its high-end specialty chemicals in preparation for increasing competition in the global petrochemicals market.　LG Chem’s specialty chemical acrylonitrile butadiene styrene. LG ChemLG Chem plans to double its sales of specialty chemicals such as its self-developed polyolefin products, acrylonitrile butadiene styrene and engineering plastics to 7 trillion won ($6.2 billion) by 2020.The chemicals fir

Oct. 16, 2016

[THE INVESTOR] The United States has again included South Korea on its monitoring list of trading partners that may be pursuing unfair currency practices, according to a report by the US Department of Treasury on Saturday. This is the second consecutive report after an April issuance under the Trade Facilitation and Trade Enforcement Act of 2015 in the US, which requires the Treasury Department to monitor key indicators related to foreign currency operations and economies that are deemed to be u

Oct. 16, 2016

[THE INVESTOR] A steep rise in sales of high fat dairy products including butter and cheese seems to be related to the growing popularity of a high-fat, low-carbohydrate diet, industry officials said Sunday, citing recent data.Sales of high-fat products such as butter, cheese and pork belly have sharply grown since mid-September, according to E-mart, a supermarket chain of retail giant Shinsegae Group.caption: Dairy products are displayed at an E-mart store in Seoul. E-martButter was the most po

Oct. 16, 2016

[THE INVESTOR] The South Korean Supreme Court’s latest ruling over the legality of wiretapping the country’s dominant mobile messenger KakaoTalk for investigative purposes is igniting controversy between the prosecution and related stakeholders.　Last Thursday, the Supreme Court of Korea ruled that conversations taken from KakaoTalk severs cannot be recognized as wiretapped evidence, as they were not seized in real time as mandated by the legal definition of “wiretapping.”The ruling over what con

Oct. 16, 2016

[THE INVESTOR] Four South Korean venture capital firms have decided to invest US$16 million in a UK-based cancer drug maker Celleron Therapeutics, according to sources on Oct. 14. Korea Investment Partners will invest US$6 million while three others including NHN Investment will commit a total of US$10 million into the company developing personalized medicine for cancer patients.The move marks the first time that Korean venture capital firms are funding a British biotech startup. As valuations o

Oct. 14, 2016

[THE INVESTOR] South Korean pharmaceutical company Celltrion has received a patent for dolastatin 10 derivative in Australia which is considered a promising anti-cancer drugs showing potency against breast and liver cancer, the firm said on Oct. 14. The drug maker was granted the license for the process for preparing dolastatin 10 derivative and anti-cancer agents comprising the same. “Dolastatin 10 derivative which constitutes CT-P26 is proven to outsmart existing carcinostatis substances in te

Oct. 14, 2016

While another base rate cut in 2016 is unlikely, the BOK’s weakening confidence in the Korean economy should raise expectations for a rate cut in 1H17. As such, we predict that the bond market will remain range bound until end-2016. Against this backdrop and believing that yields have now peaked, it appears as though a good dip buying opportunity has emerged. We also advise expanding weighting on KTBis?low-base effect should keep inflation strong until 1Q17. ▶BOK freezes base rate for fourth con

Oct. 14, 2016

[THE INVESTOR]  South Korean pharmaceutical company Celltrion will accelerate its growth and market expansion, driven by the recent exclusive partnership with Teva Pharmaceuticals Industries to commercialize its biosimilar candidates, a local brokerage said on Oct. 13. Celltrion Healthcare, the company’s overseas marketing affiliate, has struck a deal to give Israel’s Teva the exclusive right to commercialize Celltrion’s CT-P10 and CT-P6 in Canada and the US on Oct. 6. “The move will lead to fas

Oct. 13, 2016