Celltrion Co.'s Stock Price Falls below 200,000 Won on Nov. 8
The stock prices of Celltrion Group's affiliates are plunging on news of Pfizer's development of an oral COVID-19 treatment. Celltrion Co.'s stock price fell below 200,000 won for the first time in 2021 on Nov. 8.
As of 10 a.m. on Nov. 8, Celltrion Co. was trading at 196,000 won, down 6.22 percent (13,000 won) from the previous trading day. It closed at 197,000 won.
This marked the first time in 2021 that Celltrion Co.'s stock price descended below 200,000 won. Currently, the company’s market capitalization is about 27.352 trillion won, ranking 10th among KOSPI stocks (excluding preferred stocks). At the same time, Celltrion Healthcare closed at 79,800 won, down 5,200 won, while Celltrion Pharmaceutical lost 6,900 won to close at 111,600 won.
These stock price drops are blamed on the news that U.S. pharmaceutical company Pfizer has developed a pill-type COVID-19 treatment, analysts say. Earlier, Pfizer announced that the pill-type oral treatment “Paxlovid” would reduce hospitalizations and deaths by 89 percent.