On the 5th morning, shares of Alteogen, the No. 1 by market capitalization on KOSDAQ, are falling more than 10%.
It comes as partner U.S. Merck (MSD) was said to have received a preliminary injunction from a German court banning sales of "Keytruda SC."
As of 9:40 a.m. that day, Alteogen is trading on the KOSDAQ market at 446,500 won, down 72,500 won (13.97%) from the previous session.
Earlier, U.S. biotech competitor Halozyme said that it won approval from a German court for a preliminary injunction requesting a ban on distribution and sales of Merck's (MSD) Keytruda SC, a product from Alteogen's partner.
Keytruda SC is a product that applies Alteogen's technology to convert to a subcutaneous injection formulation, and MSD obtained market authorization for the product from the European Commission (EC) on the 19th of last month, entering the commercialization stage.