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Celltrion (068270 KS): Muted Q1 2022 Performance Reflects Continuing Biosimilars Pricing Pressure
443 Views14 May 2022 10:20
SUMMARY
- Celltrion Inc (068270 KS) reported muted Q1 results, with revenue, operating profit, and net profit declining quarter-over-quarter. Its biosimilar products in the EU are facing price competition.
- Celltrion has recalled its COVID-19 rapid antigen test kits in the U.S. in April, which marks its third such recall in less than two months.
- Celltrion shares plunged 15% since I published bearish insight on the company on March 8. Bear thesis of biosimilar competition still holds good for the company.
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