Foreigners, institutions back Celltrion - (The Korea Times via NewsPoints Desk)

  • Analysts said Celltrion, which has moved to Korea's KOSPI stock exchange, is expected to rise further on continued money inflow from foreign funds, reported The Korea Times.

  • "It's hard to present Celltrion's target price as its current market value as it very much includes its growth potential as a promising biosimilar maker," IBK Securities analyst Lee Chang-hwa said.

  • Celltrion said it expects to receive FDA approval for Truxima, similar to Roche's lymphoma drug Rituxan, by the end of this year. Also, it plans to launch more biosimilar cancer drugs in Europe beginning in the first quarter of this year.

  • "Some say Celltrion stocks went too far, but no one knows about the limit of the biosimilar market. The one clear point is that demand for copycat drugs will rise over the next five years," said Choi Chang-kyu at NH Investment & Securities.

  • The analyst added that "in terms of growth, Celltrion goes ahead of its cross-town rival Samsung Biologics. We expect Celltrion may get up to 1.5 trillion won in fresh cash inflows on its stocks."

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