Samsung Biologics Falls on Yonhap Report of FSS Special Audit
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Samsung Biologics Co., the South Korean drug contract manufacturer, fell in Seoul trading after local news agency Yonhap reported that the country’s Financial Supervisory Service would conduct a special audit on the company.
The stock dropped as much as 5.7 percent before trading 4 percent lower at 10:11 a.m. local time. The company is the pharmaceutical manufacturing arm of the conglomerate Samsung Group. The special assessment would be conducted after some “unclear parts” in an audit reviewed by the Korean Institute of Certified Public Accountants before Samsung Biologics initial public offering, Yonhap said.