Celltrion’s shares rise 7% on Oct. 18

[THE INVESTOR] Pharmaceutical firm Celltrion’s shares rose 7 percent on Oct. 18 to close at 107,000 won ($US94.9) on expectations of Israeli genetic drug firm Teva’s acquisition of the Korean firm.

In an email interview with The Investor, the Israeli firm expressed its interest in buying the Korean firm when the latter is up for sale to strengthen its biosimilar portfolio.

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“We will continue to investigate such opportunities as we balance risks and seek complementary skills in our partners,” Yonatan Beker, director of corporate reputation at Teva, told The Investor via email on Oct. 14.

US pharmaceutical giant Pfizer said on Oct. 18 that it would begin selling a Remicade biosimilar developed by the Korean biopharma company in the US from late November.

By Kim Young-won (wone0102@heraldcorp.com)