South Korea's KRX Biotech Index Rebounds 6.92% in Past Week as Samsung BioLogics, Celltrion Post Record Q2 Earnings

South Korea's KRX Biotech TOP 10 index, which tracks the 10 largest biotech stocks by market cap, rose 6.92% over the past week ended July 29, according to the Korea Exchange. The biotech index significantly outperformed the broader KOSPI index, which fell 10.73% over the same period.

Samsung BioLogics posted record second-quarter earnings of 1.32 trillion Korean won in revenue and 586.4 billion won in operating profit, representing 30.2% and 22.9% growth year-over-year. Celltrion also achieved record quarterly results with 1.39 trillion won in revenue and 451.8 billion won in operating profit, marking its first time leading Samsung BioLogics in quarterly revenue. Alteogen announced a 30% free share issuance and reported partial relief from patent uncertainties surrounding its ALT-B4 technology.