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[Notice to shareholders] Celltrion’s Response to Recent Report by “Ghost Raven Research”


Celltrion’s Response to Recent Report by “Ghost Raven Research”


The following is an official response by Celltrion Inc. to the recent report on the Company published by an anonymous group named Ghost Raven Research on Feb. 29, 2016, on Scribd.com.


As Ghost Raven Research stated in its disclaimer, the report was prepared for the purpose of profit gains through short-selling.  Its disclaimer notes:  “You should assume that as of the publication date of our reports and research, Ghost Raven Research along with our clients and/or investors and/or their clients and/or investors has a short position in all stocks and bonds converted herein, and therefore stands to realize significant gains in the event that the price of either declines.”


Our product, Remsima, the world’s first monoclonal antibody biosimilar, has been officially approved in 70 countries and is selling in the global market through reliable partner companies such as Pfizer and Mundi Pharma. Remsima’s market share in Europe is growing fast, and it’s now highly probable that we will enter the US market, as evidenced by the strong support from the FDA’s Advisory Committee for the approval of Remsima for all indications. Celltrion’s stock price has been increasing sharply due to the growth potential of Remsima and its contribution to the Company’s enterprise value.


We believe that the short sellers of Celltrion stocks must have taken huge losses, and they are circulating these false reports to recover their damages.


We thank you, our shareholders, for your continued support.


March 8th, 2016

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