Latest news with #SamsungBioLogics
Mint
5 days ago
- Business
- Mint
South Korean shares fall as chip, pharma stocks drag
KOSPI falls, foreigners net sellers Korean won weakens against dollar South Korea benchmark bond yield steady SEOUL, - Round-up of South Korean financial markets: ** South Korean shares fell on Wednesday as chip and pharma stocks dropped on U.S. President Donald Trump's tariff threats. ** The benchmark KOSPI lost 14.11 points, or 0.44%, at 3,183.89 as of 0103 GMT. ** On Tuesday, Trump said the U.S. would begin with a "small tariff" on pharmaceutical imports and increase it in a year or so. He also signalled that tariffs on semiconductors will be announced within the "next week or so". ** South Korea will prepare measures to help companies cope with higher tariffs and expand into new markets, the country's finance ministry said on Tuesday, as it kicked off a task force to prepare the new administration's economic policy plans. ** Chipmaker Samsung Electronics fell 2.00% and peer SK Hynix lost 1.90% after the Philadelphia Semiconductor Index dropped 1.12% overnight. ** Drugmaker Samsung BioLogics slipped 2.09%, while peer Celltrion shed 0.56%. ** Most other manufacturing heavyweights rose. Battery maker LG Energy Solution added 0.39% and Hyundai Motor gained 0.24%. Steelmaker POSCO Holdings was up 0.67%. ** Of the total 934 traded issues, 604 advanced, while 275 declined. ** Foreigners were net sellers of shares worth 237.5 billion won . ** The won was quoted at 1,389.4 per dollar on the onshore settlement platform, 0.22% lower than Tuesday's close of 1,386.3. ** In money and debt markets, September futures on three-year treasury bonds were unchanged at 107.38. ** The most liquid three-year Korean treasury bond yield rose 0.3 basis point to 2.430%, while the benchmark 10-year yield fell 0.9 basis point to 2.757%. This article was generated from an automated news agency feed without modifications to text.
CNA
22-05-2025
- Business
- CNA
Samsung BioLogics spin-off to separate contract drug making, new growth drivers
SEOUL :South Korean drug maker Samsung BioLogics said on Thursday it plans to separate the company into contract manufacturing and development companies, to help allay customer concerns about conflicts of interest between businesses. BioLogics said in a regulatory filing that it will keep its drug contract manufacturing business while spinning off a business overseeing subsidiaries, including biosimilar drug developer Samsung Bioepis, as well as new investments. The new spun-off company will tentatively be called Samsung Episholdings, the filing said. "With the spin off, we expect to have more opportunities to explore next-generation growth drivers," Samsung Bioepis said in a statement. BioLogics counts tech giant Samsung Electronics and builder Samsung C&T as its major shareholders. Kim Soo-hyun, head of research at DS Investment & Securities, said the deal may pave the way for Samsung C&T to sell some of its stake in the separated company and buy shares in Samsung Electronics, increasing the group's grip on the conglomerate's crown jewel. Shares in BioLogics, which had risen 7.1 per cent a day earlier after local media reports about a potential spin-off, rose as much as 8.2 per cent on Thursday before paring gains.
CNA
21-05-2025
- Business
- CNA
South Korea's Samsung BioLogics says it plans to separate company
SEOUL :South Korea's Samsung BioLogics said on Thursday it plans to separate the company between its drug contract manufacturing business, and a business overseeing subsidiaries including biosimilar drug developer Samsung Bioepis as well as new investments. BioLogics said in a regulatory filing that it will spin off the business overseeing Samsung Bioepis. Shares in BioLogics rose 7.1 per cent a day earlier after local media reports that Samsung BioLogics was considering the spin-off, and investor hopes of benefit from the move.
Reuters
21-05-2025
- Business
- Reuters
South Korea's Samsung BioLogics says it plans to split company
SEOUL, May 22 (Reuters) - South Korea's Samsung BioLogics ( opens new tab said on Thursday it plans to split the company between its drug contract manufacturing business, and a business overseeing subsidiaries including biosimilar drug developer Samsung Bioepis as well as new investments.
