The author is an analyst of KB Securities. He can be reached at kimtaehee@kbfg.com. -- Ed.Top pick for Pharmaceuticals & Biotechnology We maintain BUY and TP of KRW1,200,000 on Samsung Biologics. Our TP remains unchanged despite revisions to 2023 ERP and RFR and slight downward adjustments to earnin
Medytox announced on Jan. 20 that Gentix Limited, a subsidiary of its Chinese business partner Bloomage Biotechnology, filed a claim for damages with the Singapore International Arbitration Center (SIAC). The amount claimed is about 119 billion won.Along with a claim for damages, Gentix filed a clai
SK bioscience introduced a new global partnership model at the Riyadh Global Medical Biotechnology Summit 2023 (RGBMS 2023), which took place from Jan. 25-26 at Hilton Riyadh Hotel in Riyadh, Saudi Arabia.The company's president Ahn Jae-yong shared the successful development history of Korea'
Display technology has been designated as a national strategic technology following semiconductor, secondary battery, and biotechnology.The Ministry of Strategy and Finance announced on Jan. 18 a revised enforcement rule of the Restriction of Special Taxation Act, which added five display technologi
Protium Science, a contract development and analysis organization (CDAO) in Korea, announced that it has signed a contract development and analysis service agreement with MUSTBIO, a biotechnology company specializing in multi-specific antibody platforms.Under the agreement, Protium Science, as a CDA
Samsung Electronics' future investment is expected to gain more momentum as the company is expected to receive tax cuts in the United States following Korea.According to local media reports, the board of directors of the Manor Independent School District (ISD) in Austin, Texas, approved Samsung
Amorepacific participated in the Asian Congress for Alternatives to Animal Experiments (ACAAE) held at the International Convention Center Jeju (ICC Jeju) from Dec. 14 to 16.At the event, Amorepacific held a seminar and shared the results of its research on alternatives to animal experiments and fut
SK bioscience announced on Oct 21 that it has hired Harry Kleanthous, senior program officer of the Bill & Melinda Gates Foundation, as vice president of vaccine R&D strategy and external innovation of SK bioscience USA, its U.S. subsidiary.Kleanthous has served as vice president of Acambis Inc., a
Korean electric vehicle (EV) battery makers are stepping up their efforts to reduce their reliance on raw materials from China. LG Energy Solution announced on Oct. 20 (local time) that it has signed an MOU with Syrah Resources Limited in Australia on the supply of natural graphite.The Australian co
The author is an analyst of KB Securities. He can be reached at kimtaehee@kbfg.com. -- Ed. Maintain BUY, target price of KRW1,200,000 We maintain BUY and TP of KRW1,200,000 on Samsung Biologics. The stock deserves attention because (1) 3Q22 earnings should beat the market consensus, (2) growth momen
SK Bioscience has decided to incorporate a subsidiary in the United States, a move designed to accelerate innovation and growth and to secure a biotech production base in the U.S.The decision to set up SK Bioscience USA was made on Oct. 1. Kim Hoon, SK Bioscience’s chief technology officer (CTO), wi
The authors are analysts of Shinhan Investment Corp. They can be reached at shawn1225@shinhan.com and jhwon@shinhan.com, respectively. – Ed. Celltrion unlikely to be hit by follow-up measures of the executive orderUS President Joe Biden on Sept. 12 signed an executive order for the launch of a natio
U.S. President Joe Biden signed an executive order on Sept. 12 to launch the National Biotechnology and Biomanufacturing Initiative, which is for boosting production in the U.S. pharmaceutical and biotech sectors. The idea is to build new supply chains and create decent jobs in the sectors to rely l
As the United States is in a hurry to strengthen its supply chains, Korean companies are accelerating their investments in North America. SK Group has recently announced a large-scale investment plan in North America. In a video interview with U.S. President Joe Biden in July, SK Group chairman Chey
Medytox’s Chinese partner has announced that it would terminate cooperation with the Korean company in the botulinum toxin business, dealing a blow to Medytox’s efforts to expand its business in China. Bloomage BioTechnology announced on Aug. 3 that it notified Medytox on July 29 of its intention to
Orion Holdings announced on July 13 that Shandong Lukang Haoliyou Biotechnology Development, its joint venture in China, has signed a contract with the Chinese city of Jining, Shandong Province, to cooperate in a vaccine development project.This contract is about cooperation in the development of a
SK Group chairman Chey Tae-won met with Mexican Foreign Minister Marcelo Ebrard in Seoul on July 7 to discuss cooperation in four strategic business areas -- green business (rechargeable batteries), biotechnology, digital technology, and semiconductors and advanced materials.Chey talked about cooper
The Korean Ministry of Food and Drug Safety (KMFDS) has authorized South Korea's first homegrown COVID-19 vaccine from SK bioscience.South Korea has become one of the few countries in the world to have both a domestically developed COVID-19 vaccine and a treatment.SKYCovione is a self-assembled
Major Korean companies are ramping up their investments in Indonesia, which they regard as a base for advancing into Southeast Asia. Korean companies' investments are made in diverse sectors, including electric vehicles, batteries, petrochemicals, and biotechnology. The Indonesian government is
The authors are analysts of Shinhan Investment Corp. They can be reached at shawn1225@shinhan.com and sehunjang@shinhan.com, respectively. – Ed. Biotech stocks on a losing streak since 2021Biotech stocks have continued on a losing streak in 1H22. Investor appetite for growth stocks has declined in t