This Drugmaker’s Value Surged $8 Billion In Just Seven Days
Photographer: Kiyoshi Ota/Bloomberg
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Equities have greeted 2018 with a bang, but none more so than Korean pharmaceutical maker Celltrion Inc., which has piled on about 9 trillion won ($8.4 billion) of market value in just seven days.
The surge has seen Incheon-based Celltrion -- which makes most of its money manufacturing copies of drugs whose patents have expired -- streak past Hyundai Motor Co., South Korea’s largest automaker, to become the third-biggest company by value on the country’s stock exchange. Its 37 trillion won market cap puts it behind smartphone behemoth Samsung Electronics Co. at No. 1 and chip giant SK Hynix Inc. in second place.