Due to Biosimilars
Samsung BioLogics Co., a biopharmaceutical business arm of Samsung Group, beat Hyundai Motor Co. in terms of market capitalization.
The price of Samsung BioLogics shares stood at 482,500 won (US$452.63) as of 2:30 pm on March 29, up 3.76 percent from the previous trading day. On the other hand, Hyundai Motor plunged 4.95 percent to 144,000 won (US$135.08).
Samsung BioLogics has shown an upward trend in stock prices with recent expectations for biosimilars, boosting its market capitalization. In contrast, Hyundai Motor saw its stock prices plunge despite the announcement of new plans to streamline its governance structure, trimming down its market capitalizatoin.
The market capitalization of Samsung BioLogics amounts to 31.89 trillion won (US$29.92 billion), surpassing 31.61 trillion won (US$29.65 billion) of Hyundai Motor. Accordingly, Samsung BioLogics has emerged as the fourth largest company by market capitalization in South Korea.