Celltrion Inc. is a South Korean-based drug manufacturer. Its shares fell in Seoul trading after a newspaper reported that the company may be bought by AstraZeneca Plc. The report contained inaccurate information causing sales to slump.

Celltrion shares decreased by 7% to KRW60,800 as of 10:41 am in Seoul. This was the biggest loss for the company since April after a daily limit of 15%

Celltrion shares slumped 7 percent to KRW60,800 as of 10:41 a.m. in Seoul, heading for its biggest loss since April 22, after a surge of its daily limit 15% yesterday. According to South Korea's Financial Newspaper, Celltrion is in final discussion with AstraZeneca, without naming any investment bankers.

Incheon-based Celltrion said in a statement posted on its website, that the reports of a stake sale to AstraZeneca were not true. Meanwhile, the drugmaker is in talks over a stake sale with its financial adviser, JPMorgan Chase & Co. However, the drug company said that it has not reached any decision. The statement did not mention any on-going talks with AstraZeneca.