Reuters: Hot Stocks: Korea Hot Stocks-Celltrion rallies on hope of EU drug approval

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Korea Hot Stocks-Celltrion rallies on hope of EU drug approval Jun 28th 2013, 01:30 SEOUL, June 28 | Thu Jun 27, 2013 9:30pm EDT SEOUL, June 28 (Reuters) - South Korea's main KOSPI share index was up 0.82 percent at 1,849.79 as of 0118 GMT. The junior Kosdaq share index was up 0.75 percent at 516.12. Shares in Celltrion Inc shot up by more than 9 percent to a two-month high on Friday, driven by expectations that its key drug would gain European regulatory approval later in the day. Celltrion Chief Executive Seo Jung-jin plans to hold a news conference at 5:30 pm Seoul time on Friday, a company official said without elaborating. Celltrion's treatment Remsima, a version of the blockbuster rheumatoid arthritis drug Remicade made by Johnson & Johnson and Merck & Co, would be the first antibody biosimilar in a Western market if approved by the European Union. Celltrion's shares were up 9.5 percent at 42,900 Korean won ($37.31), heading for a seventh consecutive session of gains. ($1 = 1149.6750 Korean won) (Reporting by Hyunjoo Jin and Miyoung Kim; Editing by Subhranshu Sahu)

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