SEOUL – Celltrion Inc., a prominent South Korean biopharmaceutical company, announced the launch of its novel autoimmune disease medication, Zymfentra, in the United States. The company stated that Zymfentra, which is an injectable formulation derived from its infliximab product Remsima, received the green light from the U.S. Food and Drug Administration for treating conditions such as ulcerative colitis and Crohn's disease.
According to Yonhap News Agency, the pricing strategy for Zymfentra has been thoughtfully determined to remain competitive within the U.S. market, with an ambitious goal to capture over 10 percent market share among its target demographic by 2025. This target is set to propel the company towards achieving $750.3 million in annual sales from Zymfentra alone. The company emphasized the significance of the U.S. market for inflammatory bowel disease treatments, valued at approximately 12.8 trillion won, referencing data from healthcare research firm IQVIA. Furthermore, Celltrion highlighted that Zymfentra is integral to its broader strategy aiming for an annual revenue milestone of 12 trillion won by 2030.
SEOUL – The Korean stock market witnessed slight growth during Monday's opening, largely propelled by advancements in the technology sector. The Korea Composite Stock Price Index (KOSPI) experienced a marginal rise, reflecting the mixed performance of large-cap entities, with technology and chemical sectors showing positive momentum.According to Yonhap News Agency, key technology firms contributed to the upward trend. Samsung Electronics saw a 0.55 percent increase, while semiconductor company SK hynix recorded a 0.56 percent rise. In the energy storage sector, LG Energy Solution's shares went up by 0.75 percent, and Samsung SDI experienced a 0.35 percent gain. Contrastingly, Hyundai Motor reported a decrease of 1.03 percent, with Kia Motors remaining unchanged. Concurrently, the South Korean won depreciated against the U.S. dollar, marking a shift in the foreign exchange landscape.