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[Shin-Min Joon, Edaily Reporter] On September 23 in the South Korean pharmaceutical and biotechnology stock market, remarkable stock surges were seen in Celltrion, Protina, and Viol. Celltrion¡¯s share price rose on expectations that tariff risk would be alleviated by acquirÇϳª±×¸°½ºÆÑ ÁÖ½Ä
ing a US biologics manufacturing facility from global pharma company Eli Lilly.
Protina¡¯s stock jumped sharply after securing a clinical specimen analysis service contract with a multinatio¸ð¹ÙÀÏ ¹Ù´ÙÀ̾߱â
nal company. Viol which is facing delisting procedures on KOSDAQ hit the daily upper price limit for three consecutive days driven by a dominance of buying amid decreased trading volume.

°¡Ä¡ÁÖÆÝµå



¡ÞCelltrion Acquires Eli Lilly¡¯s Biologics Facility for 460 Billion Won

According to KG Zeroin¡¯s MP Doctor (formerly MarketPoint), Celltr¹Ù´ÙÀ̾߱⠸ð¹ÙÀϰÔÀÓ
ion¡¯s stock closed at won 184,200 up 8.93% from the previous trading day. After falling the day before the share price rebounded buoyed by the announcement of a won 460 billion acquisition of Eli Lill1%¸¸ ¾Ë°íÀÖ´Â Áõ±ÇÁ¤º¸
y¡¯s biologics manufacturing plant in Branchburg New Jersey, U.S. The transaction lifted investor expectations of reduced tariff risk.
The facility is a large scale campus on 45,000 pyung (149,000 m©÷), comprising four buildings: a production facility, a logistics warehouse, a technical support wing, and an operations building. Because Celltrion owns unused land of about 11,000 pyung (36,400 m©÷) on the site, it has room for expansion, which could allow the company to respond preemptively to rising market demand.
Though the headline purchase price is 460 billion won total investment including initial operating expenses and facility expansion is expected to reach won 1.4 trillion over the long term. Celltrion plans to finance it via borrowing and inject the capital into its U.S. subsidiary Celltrion USA, through a paid in capital increase.
In an online press briefing Celltrion Group Chairman Seo Jung jin said ¡°If the U.S. demands tariffs, investing in the U.S. is the answer.¡±
He added ¡°To deal with tariff issues, we¡¯ve maintained inventory for two years.¡± He also said that before its domestic production facility is ready Celltrion will sell products made in the USA under contract manufacturing (CMO) agreements. Negotiations to acquire the New Jersey facility from Eli Lilly began about six months ago.
Though other companies vied for it Celltrion was designated as preferred bidder. The formal contract was finalized on September 20. Half of the production lines in the purchased facility will continue manufacturing Eli Lilly products under contract while the other half will be used for Celltrion¡¯s own products. Full scale production including transfer of operations from Lilly validating Celltrion¡¯s own products, and obtaining necessary re approvals is expected in the second half of next year.
The biotech industry views this move as resolving tariff related uncertainties for Celltrion. In addition to mitigating tariff risk industry observers anticipate that Celltrion¡¯s earnings will improve thanks to expansion of its contract manufacturing business. New revenue from CMO contracts with Eli Lilly is expected. The company plans to increase capacity, targeting a facility size about 1.5 times larger than its Incheon Songdo Plant 2. Accordingly its operating margin is expected to gradually rise.
Chairman Seo also noted ¡°The facility isn¡¯t just manufacturing staff it includes R&D personnel and production technology teams making it a natural opportunity to relocate or integrate U.S. based laboratories.¡± This he said would strengthen a bilateral research system anchored in Songdo, Korea and New Jersey U.S.
¡ÞProtina Secures Global Contract for Clinical Specimen Analysis Services
Protina¡¯s stock closed at won 43,400 up 29.94% compared to the previous day hitting its daily upper bound. The surge followed the company¡¯s securing of a contract worth about 1.2 billion won to supply clinical specimen analysis services to a multinational U.S. pharmaceutical firm. Established in 2015 as a KAIST faculty startup Protina is a big data protein company whose core competency is analyzing protein protein interactions (PPI).
Protina operates a single molecule protein interaction (SPID) platform called PPI Landscape used to quantify interactions among proteins across various sample types feeding into drug discovery.
By rapidly acquiring large datasets of antigen antibody interaction data the platform helps in developing biobetters or discovering new drug candidates. Understanding the composition of protein complexes and interaction networks more precisely boosts success probabilities in identifying disease targets, developing biomarkers and designing modulators.
Notably Protina has drawn attention through an investment by global investment bank JPMorgan. As of July 10 the Asia Pacific branch of JPMorgan Asset Management held a 2.89% stake. Protina has said that JPMorgan¡¯s favorable evaluation of the business potential of its PPI Landscape platform, even before the stock listing, was a key reason for the investment.
A company official commented ¡°The contract shows that our unique technology has been validated which seems to have positively influenced the stock price.¡±
¡ÞViol Approaches KOSDAQ Delisting, Stock Hits Three Day Upper Limit
Viol¡¯s share price rose 29.90% from the previous day to won?27,150, marking its third consecutive day at the daily upper price limit. The surge is attributed to a diminished trading volume creating a situation where buying pressure dominates. Indeed, the trading volume dropped from 882,874 shares on September 21 to just 260,321 shares on this day.
Recently, Viol¡¯s majority shareholder changed. In May VIG Partners acquired 56.9% of Viol¡¯s management rights from DMS for 367.9 billion won. Through a tender offer from June 18 to July 7, VIG Partners increased its shareholding to around 85%, then continued purchasing remaining shares on the open market. To prepare for delisting, VIG Partners formed a special purpose company called Vienna Investment Vehicle in June. On July 9 it disclosed the possibility of a cash?settled comprehensive share exchange. This procedure would force purchase of minority shareholders¡¯ shares in order to delist. Once shareholding exceeds 95%, Viol may directly apply for delisting with the Korea Exchange.
If the share purchase agreement between DMS and VIG Partners concludes successfully on September 29 VIG Partners¡¯ ownership will rise to 96.57%. Delisting generally proceeds via board resolution followed by convening a shareholders¡¯ meeting. If approved via a special resolution, the company applies for delisting with the Korea Exchange. After passing the exchange¡¯s review a period of organized trading for remaining shares is set before final delisting occurs.
Viol a medical device company specializing in cosmetic skin beauty equipment, has consistently posted record revenues and operating profits. Last year it recorded sales of 58.2 billion won and operating profit of 36.1 billion won.
Its operating margin of 62% was among the highest in the industry. The company was first to develop a high frequency cosmetic device using microneedles as small as 300 micrometers (¥ìm).
An official at Viol said ¡°There is no particular new development the reduced trading volume has made the buying side more noticeable.¡±
½Å¹ÎÁØ (adonis@edaily.co.kr)

 
   

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