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US court rules in favor of Celltrion’s biosimilar

Aug 18, 2016

[THE INVESTOR] The US District Court for the District of Massachusetts ruled Janssen’s Remicade patent invalid on Aug. 17. This repeats the decision of the US Patent & Trademark Office from February 2015, and brightens the prospect of Celltrion(chairman Seo Jung-jin) and Pfizer’s plan to introduce a biosimilar version of the rheumatoid arthritis and autoimmune disease treatment in the US within this year. Janssen Biotech filed a suit over Celltrion’s Remsima, saying the South Korean biopharmaceu
Int’l law professor to head Korea Trade Commission

Aug 17, 2016

[THE INVESTOR] The Ministry of Trade, Industry and Energy has named Seoul National University law professor Shin Hi-taek as the Korea Trade Commission chairman, it announced Aug. 17. Shin studied law at Seoul National University and Yale with a specialization in international investment. He worked at Kim & Chang law firm and served as the director of Seoul National University Research Institute and a counsel for the International Center for the Settlement of Investment Disputes.The international
Hanwha E&C turns to black in H1 with W73b operating profit

Aug 17, 2016

[DISCLOSURE] Hanwha Engineering & Construction reported on Aug. 17 that it has turned to black with 73 billion won (US$66.61 million) operating profit in the first half of this year. Its sales came in at 1.39 trillion won and net profit reached 345 billion won turning to black from the same period last year.
Ahn-gook Pharm to apply for diabetes treatment clinical trials in Europe

Aug 17, 2016

[THE INVESTOR] Ahn-gook Pharmaceutical announced on Aug. 17 that it has completed a nonclinical study on UAI-101, an 11B-HSD1 inhibitor, and will apply for phase 1 clinical trials to the European Medicines Agency by the end of this year. This new drug candidate is a new type of therapy that will selectively inhibit 11B-HSD1, an enzyme that controls cortisol that regulates metabolism and thus can cause metabolic-related conditions including diabetes, obesity and dyslipidemia. Ahn-gook Pharmaceuti
Asiana sputters while low-cost carriers soar

Aug 17, 2016

[THE INVESTOR] Asiana Airlines’ passenger service share in the first half of this year fell to 19.51 percent, its lowest since 1999, according to International Airport’s data released Aug. 17.The share of South Korea’s second-largest commercial airline has been downhill since it peaked at 25.07 percent in 2010. Cargo service share also is down from 2013’s 26.5 percent. While the 18-year-old airline saw 1.39 percent point drop in the first half, low-cost carriers are closing in on the 20 percent
Ilyang Pharma’s leukemia drug found effective for Parkinson’s disease

Aug 17, 2016

[THE INVESTOR] Ilyang Pharmaceutical announced Aug. 17 that its anti-leukemia agent Radotinib has been found effective to treat Parkinson’s disease.The team of Ko Han-seok, assistant professor of neurology at Johns Hopkins School of Medicine, has found from animal testing that Radotinib decreased aggregation of a protein named alpha-synuclein, a major constituents of protein clumps that are the pathological hallmark of Parkinson’s disease. They also confirmed that it hindered activation of c-ABL
Celltrion’s biosimilar might debut in US in October

Aug 17, 2016

[THE INVESTOR] Celltrion’s biosimilar version of Janssen’s Remicade might debut in the US as early as October, as the patent suit is showing signs of coming to an end. From Aug. 16 to 18, a U.S. District Court for the District of Massachusetts will hold a trial over the patent of Remicade, following Celltrion’s request to speed up the legal process it claims is being exploited by Janssen as a means to hindering the introduction of the biosimilar.Related article : US court rules in favor of Cellt
Asian budget carriers beef up Korean routes

Aug 17, 2016

[THE INVESTOR] International low-cost carriers are increasing their flights against their fast-expanding South Korean counterparts, according to data released Aug. 16.Nine international budget carriers flew 9,207 flights to and from South Korea this year through July, a 23.8 percent increase from the same period last year. Peach AirVietnam’s VietJet and Japan’s Peach Air have been the most aggressive among them. VietJet increased the number of flights by 88.09 percent on-year to 884, adding serv
Hanjin Shipping turns to red in Q2 with W228b operating loss

Aug 17, 2016

[DISCLOSURE] Hanjin Shipping (117930) reported on Aug. 16 that its operating loss in the second quarter came in at 228.9 billion won (US$208.85 million) turning to red from the same period last year. Its sales decreased 27.5 percent to 1.43 trillion won and net loss amounted to 212 billion won turning to red on-year.
Woongjin Energy considering taking over SKC Solmics solar division

Aug 17, 2016

[DISCLOSURE] Woongjin Energy (103130) acknowledged media reports that it is considering taking over SKC Solmics’ solar energy division but did not provide any specifics in a statement released on Aug. 16 in response to Korea Exchange’s inquiry. a
Kolon's Q2 operating profit increases 75.1% to W40b

Aug 17, 2016

[DISCLOSURE] Kolon (002020) reported on Aug. 16 that its operating profit in the second quarter rose 75.1 percent to 40.8 billion won (US$37.23 million) from the same period last year. Its sales increased 5.8 percent to 995.6 billion won and net profit decreased 69.5 percent to 15.7 billion won on-year.
Kumho Tire's Q2 operating profit down 26% to W40b

Aug 17, 2016

[DISCLOSURE] Kumho Tire (073240) reported on Aug. 16 that its operating profit in the second quarter fell 26 percent to 40.73 billion won (US$37.16 million) from the same period last year. Its sales decreased 5 percent to 744.84 billion won and net loss came in at 7.47 billion won turning to red on-year.
E1's H1 operating profit up 38.5% to W49b

Aug 17, 2016

[DISCLOSURE] E1 (017940) reported on Aug. 16 that its operating profit in the first half of this year rose 38.5 percent to 49.2 billion won (US$44.89 million) from the same period last year. Its sales decreased 10.1 percent to 1.65 trillion won and net profit increased 36.2 percent to 55.6 billion won on-year.
Hanwha's Q2 operating profit up 32.4% to W548b

Aug 17, 2016

[DISCLOSURE] Hanwha (000880) reported on Aug. 16 that its operating profit in the second quarter rose 32.4 percent to 548.7 billion won (US$500.64 million) from the same period last year. Its sales increased 12.1 percent to 10.86 trillion won and net profit hiked 121.2 percent to 428.1 billion won on-year.
Hanjin Heavy I&C Holdings suffers W278b impaired loss in 2015

Aug 16, 2016

[DISCLOSURE] Hanjin Heavy Industries & Construction Holdings (003480) reported on Aug. 16 that it has posted 278.7 billion won (US$254.10 million) impaired loss on bonds in 2015 fiscal year. It was due to the decrease in non-operational asset value of its subsidiary Hanjin Heavy Industries & Construction (097230), the company explained. This amounts to 26.32 percent of its equity capital as of 2014.