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Celltrion Q2 profit down 2.2% YOY

Celltrion Inc. posted a 2.2% year-over-year decrease in its second-quarter net profit and said sales dropped 10.8%.

The Incheon, South Korea-based maker of biosimilars said net profit for the quarter ended June 30 totaled 78.29 billion won, down from 80.04 billion won a year earlier.

Sales fell to 234.98 billion won from 263.44 billion won in the year-ago period.

Operating profit for the quarter was 83.36 billion won, a 21.2% drop from 105.76 billion won in 2018.

As of July 31, US$1 was equivalent to 1,182.30 South Korean won.