Samsung Biologics bumps Hyundai from Korean market's top 3

Drugmaker's market cap surges to $31bn on lucrative virus treatment deal

20200423N Samsung Biologics

Samsung Biologics benefits from the clean room expertise of fellow group member Samsung Electronics. (Photo courtesy of Samsung Biologics)

KOTARO HOSOKAWA, Nikkei staff writer

SEOUL -- Samsung Biologics has become South Korea's third-most-valuable company, besting the much larger Hyundai Motor thanks to its status as a rare winner in the coronavirus economy.

The drugmaker's shares soared this month after it won an order worth up to $362 million from a U.S. company developing antibody treatments for the virus.

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