Korean biopharmaceutical companies urged to boost revenue

Published: 2013-04-23 07:00:00

Updated: 2013-04-23 07:00:00

The founder and chief executive officer of Celltrion, Seo Jung-jin, made a surprising announcement last Tuesday stating that he would offload his 97.3 percent controlling stake in the company. He said he plans to sell the pharmaceutical company to a multinational drugmaker due to constant predatory short-selling attacks.

Since the announcement, however, Celltrion’s stock has been plummeting....

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