Samsung BioLogics' shares slide again; unit's valuation jump questioned [Reuters (UK)]
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Source: Reuters
Samsung BioLogics' shares slide again; unit's valuation jump questioned | Reuters 4 Min Read SEOUL (Reuters) - Shares in South Korea’s Samsung BioLogics Co Ltd ( 207940.KS ) fell 3.5 percent on Thursday, a day after losing almost $6 billion in market value as the contract biotech drugmaker was hit by a regulatory probe into its accounting rules. South Korea’s financial regulator said earlier this week it had given preliminary notice to BioLogics, an affiliate of tech giant Samsung Electronics ( 005930.KS ), and its auditors of measures it could take concerning breach of accounting rules. While the regulator did not elaborate, some lawmakers and an activist group have previously said BioLogics breached rules to inflate net profit before its 2016 listing. The drugmaker has denied it breached rules. According to its stock market filing in 2016, the valuation in its books of loss-making drug developing unit Samsung Bioepis jumped by 18 times to 4.8 trillion won ($4.5 billion) in 2015
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BIIB
Earnings
- 2/14/24 - Miss
BIIB
Sec Filings
- 2/26/24 - Form 4
- 2/22/24 - Form 144
- 2/21/24 - Form 4
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