The authors are analysts of Shinhan Investment Corp. They can be reached at sehunjang@shinhan.com and shawn1225@shinhan.com, respectively. -- Ed. 3Q22 preview: Sales likely in line with market expectationsWe now expect Yuhan to post sales of KRW486.6bn (+7.8% YoY) for 3Q22, in line with the market c
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. Yuhan has released three abstracts for WCLC 2022, with data confirming the importance of triple combination (including platinum-based chemotherapy) over dual combination for patients with Tagrisso re
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. Although the global bio sector index continues to be sluggish, we believe it will be important to pay close attention to global clinical trial data for ADC and KRAS inhibitors at 2022 ASCO (Jun 3~7).
The author is an analyst of KB Securities. He can be reached at kimtaehee@kbfg.com. -- Ed. Maintain BUY, target price of KRW75,000 We maintain BUY and TP of KRW75,000 on Yuhan Corp. The company’s appeal lies in:(1) the self-developed drug Leclaza (lazertinib), which has established a presence in the
The author is an analyst of KB Securities. He can be reached at kimtaehee@kbfg.com. -- Ed. Maintain BUY, lower target price from KRW86,000 to KRW75,000 We lower our TP on Yuhan Corp. (KRW86,000→KRW75,000). We adjust WACC (7.49%→7.76%), risk-free rate (1.02%→1.29%) and market risk premium (7.36%→7.16
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. Yuhan posted 4Q21 OP of W4.8bn, missing consensus by a wide margin. For 2022, we estimate OP at W71.1bn and licensing-out revenue at W29.2bn. The chances of Lazertinib approval within 2022 remain int
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. In 2021, New York Stock Exchange pharmaceuticals indices have proved solid, backed by strong profit generation at large pharmas that have benefited from Covid-19. Meanwhile, returns have come in weak
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. The primary beneficiary of the Covid-19 pandemic in the pharma/bio industry has been large-cap pharmas. The biotech industry has been performing sluggishly during the pandemic due to delayed clinical
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. Yuhan plans to apply for breakthrough therapy approval for Lazertinib within the year, with the results of its CHRYSALIS-2 clinical trials and entry in the US expected to materialize in 2022. Noting
The Korea Pharmaceutical and Bio-Pharma Manufacturers Association announced on Aug. 19 that four pharmaceutical and biotech companies and the Korea Health Industry Development Institute newly joined the Cambridge Innovation Center (CIC) in Boston.The four companies are PharmCADD, WELT, Daewoong Phar
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. Yuhan’s consolidated 2Q21 OP came to W23.4bn, exceeding consensus by 17%, with OP excluding licensing fees seeing a turn to profit. Serving as the main momentum driver are clinical trials for a Tagri
ImmuneOncia, a subsidiary of Yuhan Corp., announced on March 31 that it has signed a licensing-out contract worth US$470.5 million with 3D Medicine, a Chinese company developing next-generation immuno-cancer drugs.Under the deal, ImmuneOncia will receive a down payment of US$8 million and a total of
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. With regards to Yuan’s Lazertinib, the two key issues for 2021 are to be: 1) phase II trial results for the SAVANNAH study; and 2) phase I brain metastasis data for the CHRYSALIS study. Yuhan is to r
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. Covid-19 inoculation underwayContracts are being signed for coronavirus vaccines (centering on DMs), and the pace of actual vaccination is slowly picking up. We attribute delays in global vaccine sup
Samsung Bioepis announced on March 15 that it has sealed a partnership deal with Yuhan Corp. to sell Adalloce (substance name: adalimumab), a treatment for autoimmune diseases, in Korea.Adalloce is a biosimilar to Humira, the world's No. 1 drug in terms of sales (23 trillion won), and is used to
Yuhan Corp.'s operating profit grew 6.7-fold last year thanks to milestones from its new lung cancer drug “Lazertinib,” which was licensed out to an overseas company.Yuhan Corp. announced on Feb. 24 that its operating profit reached 84.3 billion won on a consolidated basis in 2020, up 572.1 perc
Alien substances have been found in the "DoubleHeart" baby bottle cleansers imported by Yuhan Kimberly. The company started to refund the products."Some DoubleHeart bottle cleansers have been mixed with foreign substances that are believed to be dust," Yuhan-Kimberly said in a notice on its website
The author is an analyst of NH Investment & Securities. He can be reached at william.ku@nhqv.com. -- Ed. In 2020, the healthcare sector has outperformed the Kospi as a representative beneficiary of the Covid-19 crisis. In particular, testing kit, treatment, vaccine, and CMO plays have generated tang
The Korea Institute for Advancement of Technology announced on Nov. 15 that South Korea’s top 50 R&D investors included eight pharmaceutical and biotechnology companies last year. This is noteworthy in that pharma and biotech companies’ sales are smaller than those of enterprises in the other sector
South Korean pharmaceutical companies are winning a series of cases against foreign pharmaceutical companies. For example, the Seoul Central District Court recently ruled in favor of Dongkook Pharm in its patent infringement lawsuit against Bayer.Two years ago, Dongkook Pharm released a generic inje