[Market Focus] Alteogen Slumps on News of Keytruda SC Sales Ban in Germany
Alteogen shares declined on December 5. Investor sentiment appears to have weakened after the subcutaneous (SC) formulation of the immuno-oncology drug "Keytruda SC" was hit with a provisional sales ban in Germany.
As of 10:50 a.m. on this day, Alteogen shares were trading at 457,500 won on the KOSDAQ market, down 11.85% from the previous trading day. The stock opened at 512,000 won and has continued to widen its losses.
On December 4 (local time), U.S.-based Halozyme Therapeutics announced that it had won a patent infringement lawsuit against U.S. pharmaceutical company MSD in a German court. Halozyme had filed for a provisional injunction, claiming patent infringement and requesting that MSD be barred from distributing and selling Keytruda SC in Germany.
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However, MSD is reportedly planning to immediately appeal the decision.
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