SEOUL, South Korean biopharmaceutical firm Celltrion Inc. said Tuesday it will spend around 75 billion won (US$56.2 million) to buy back its shares as part of efforts to increase its shareholders' value. The buyback of a total of 425,985 shares worth some 75 billion won will take place Wednesday, according to the company. Celltrion said it has made such a decision to boost its shareholders' value and stabilize its stock prices. The company noted its corporate value remains underrated despite recent milestones, such as applications for regulatory approval of new biosimilar products and the launch of new medical treatments, including the autoimmune disease treatment Zymfentra in the United States. Celltrion bought back some 1.25 trillion won worth of its stocks last year and canceled a combined 2.3 million stocks worth about 495.5 billion won in January, following a merger with its sales and marketing affiliate Celltrion Healthcare Co. Shares of Celltrion dropped 2 percent to close at 176,100 won Monday in contrast to the broader Korea Composite Stock Price Index's 1.21 percent gain. Source: Yonhap News Agency