Samsung BioLogics Co. emerged as the seventh-largest firm on the main bourse in terms of market value, data showed Saturday, apparently bolstered by its brighter export outlooks.
The South Korean biopharmaceutical company closed at 388,500 won (US$344) on Friday, up 2.91 percent from the previous session, with its combined market capitalization estimated at 25.7 trillion won, the bourse operator Korea Exchange said.
Samsung BioLogics is the third-largest Samsung unit listed on the bourse. Samsung Electronics Co. currently stands as the largest firm on the main bourse, while Samsung C&T Corp. is placed at the fifth spot.
The company was listed on the main bourse as the 29th player on Nov. 10, 2016, with its market cap posting a near threefold growth in less than a year.
Industry watchers said Samsung BioLogics' latest rise is attributable to its brighter export outlooks.
Samsung BioLogics' production facility located in Songdo, west of Seoul, was also approved by the U.S. Food and Drug Administration on Thursday, allowing the firm to tap the U.S. market.
The company also holds biosimilar producer Samsung Bioepis Co. under its wing, which recently won nods from Europe to sell its goods. (Yonhap)