No Additional Momentum
The share price of Celltrion Inc. remained weak on Aug. 10. It closed unchanged, but fell in early trading due to poor performance in the second quarter.
Celltrion announced a day earlier that its consolidated operating profits in the second quarter dropped 21.8 percent to 108.22 billion won (US$96.76 million) compared to the same period a year ago.
Meanwhile, the stock prices of other subsidiaries of Celltrion also showed a downturn.
As Celltrion shares went down for three successive trading days from the 3rd, it canceled out most of the increases last week.
After the U.S. District Court of Massachusetts ruled on July 30 (local time) that Celltrion’s biosimilar Remsima did not infringe Janssen’s patent, the price of Celltrion shares rose 5.23 percent on July 31 and 3.31 percent on Aug. 1. However, it was on the downside again as it has lost additional momentum since then.
The stock prices of Celltrion Healthcare Co. and Celltrion Pharm Inc. also decreased for four trading days in a row.