[Courtesy Celltrion]
SEOUL -- Shares of South Korea's leading biosimilar manufacturer, Celltrion, rose sharply in early trading after its anti-cancer biosimilar, Truxima, was approved by the Food and Drug Administration (FDA) for sales in the United States.
Truxima, which is already popular in Europe to treat patients with non-Hodgkin's lymphoma, chronic lymphocytic leukemia and rheumatoid arthritis, won FDA's approval as the first biosimilar to Rituxan (rituximab) manufactured by Genentech, an American biotechnology company.
As of 9.45 am (0045 GMT) Thursday, Celltrion was trading at 243,000 won ($216), up 2.97 percent from Wednesday's close. Celltrion's third-quarter net profit plunged 49 percent from a year earlier to 54.66 billion won due to price cuts in Europe and reduced output at home.
reporter
Lim Chang-won
cwlim34@ajunews.com
