[Featured Stock] Celltrion Obtains US Approval for Vegzelma... Shares Rise 4% Intraday

[Asia Economy Reporter Minji Lee] Celltrion is experiencing an intraday rise of more than 4.53%.

At 9:35 AM on the 28th, Celltrion was trading at 173,000 KRW, up 4.53% from the previous trading day. The company's stock price surged to 173,500 KRW during the session. Celltrion Healthcare and Celltrion Pharm also rose by 3.91% and 2.79%, respectively.

The news that the Avastin biosimilar, 'Vegzelma,' received sales approval from the U.S. Food and Drug Administration (FDA) had a positive impact on the stock price. Vegzelma was approved for metastatic colorectal cancer, non-small cell lung cancer, metastatic renal cell carcinoma, cervical cancer, epithelial ovarian cancer, fallopian tube cancer (uterine tube cancer), primary peritoneal cancer, and recurrent glioblastoma.

In May, the company completed a patent agreement with Genentech, the developer of Avastin, for the global sales of Vegzelma, and Vegzelma obtained approvals in major countries such as Europe, the United Kingdom, and Japan starting last month. The company plans to sequentially launch Vegzelma worldwide from the second half of this year. Product sales and marketing will be handled by Celltrion Healthcare.