Chong Kun Dang announced on July 5 that it has signed a contract with Oman’s pharmaceutical company Menagene Pharmaceutical Industries to export “Nesbel,” a second-generation biosimilar for anemia treatment.Menagene plans to sell Nesbel in six countries in the Middle East -- Oman, Saudi Arabia, the
The author is an analyst of KB Securities. She can be reached at kahye.hong@kbfg.com. -- Ed. 1Q21 review: Profitability declined on U.S.-bound export slowdown — Celltrion Healthcare reported 1Q21 consolidated revenue of KRW356.3bn (-0.2% YoY, -7.9% QoQ) and OP of KRW31.5bn (-43.5% YoY, -65.7% QoQ).
The author is an analyst of KB Securities. She can be reached at kahye.hong@kbfg.com. -- Ed. 1Q21 review: Margins improved on enhanced production efficiency — Celltrion reported 1Q21 consolidated revenue of KRW457.0bn (+22.6% YoY, -8.4% QoQ) and OP of KRW207.7bn (+72.8% YoY, +26.1% QoQ). While reven
The author is an analyst of KB Securities. She can be reached at kahye.hong@kbfg.com. -- Ed. Maintain BUY and target price of KRW130,000 We maintain BUY and our TP of KRW130,000 for Celltrion Healthcare. Our TP, derived using the discounted cash flow model, is based on 8.5% WACC and 3.0% TGR. 1Q21 p
The authors are analysts of Shinhan Investment Corp. They can be reached at shawn1225@shinhan.com and jhwon@shinhan.com, respectively. – Ed. 1Q21 OP likely in line at KRW179bn (+49% YoY)We now expect Celltrion to post consolidated sales of KRW483.6bn (+29.7% YoY) and operating profit of KRW179bn (+4
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
The authors are analysts of Shinhan Investment Corp. They can be reached at shawn1225@shinhan.com and jhwon@shinhan.com, respectively. – Ed. Completion of Phase I clinical trial of Eylea biosimilar in KoreaAlteogen announced on March 5 that it has completed Phase I clinical trial of the Eylea biosim
The author is an analyst of KB Securities. She can be reached at kahye.hong@kbfg.com. -- Ed. 4Q20 Review: Respite amid increased competition — Celltrion Healthcare announced 4Q20 consolidated revenue of KRW387bn (-16.5% QoQ, +23.4% YoY), OP of KRW91.8bn (-28.1% QoQ, +114.5% YoY) and NP of KRW31.7bn
Dongkuk Steel Mill has developed a color steel plate that blocks the COVID-19 virus for the first time in Korea. Dongkuk Steel’s "Luxteel Bio," Korea's first antibacterial color steel plate, kills the Covid-19 virus 99.9 percent within 30 minutes.Antibacterial color steel plates have been certif
The author is an analyst of KB Securities. She can be reached at kahye.hong@kbfg.com. -- Ed. Maintain BUY; raise target price by 5.8% to KRW360,000 We maintain BUY on Celltrion and lift our TP by 5.8% to KRW360,000. We revised up our OP outlook from 2H21 to reflect expected cost reductions via titer
The authors are analysts of Shinhan Investment Corp. They can be reached at shawn1225@shinhan.com and jhwon@shinhan.com, respectively. – Ed. Exclusive license agreement signed with Intas for ALT-B4Alteogen disclosed on January 7 that it has entered into an exclusive license agreement with Intas Phar
The authors are analysts of Shinhan Investment Corp. They can be reached at shawn1225@shinhan.com and jhwon@shinhan.com, respectively. – Ed. Issuance of convertible preferred shares worth KRW75bnAlteogen disclosed on December 14 that it will issue convertible preferred shares (CPSs) worth KRW75bn by
Samsung Biologics has decided to stop the research and development (R&D) activities of Archigen Biotech, a joint venture with AstraZeneca.Archigen Biotech, launched in 2014, has been developing “SAIT101,” a biosimilar of Rituxan (component name: Rituximab). Rituxan is a biopharmaceutical product of
The authors are analysts of Shinhan Investment Corp. They can be reached at shawn1225@shinhan.com and jhwon@shinhan.com, respectively. – Ed. Technology transfer momentum intact; shift focus from platformAlteogen caught the market’s attention in June when it entered into a global license agreement (w
The authors are analysts of Shinhan Investment Corp. They can be reached at shawn1225@shinhan.com and jhwon@shinhan.com, respectively. – Ed. 1) Rituximab biosimilar M/S: Truxima 21.9% vs. Ruxience 17.8%According to the US biosimilar prescription data for October, Celltrion’s Rituximab biosimilar Tru
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 author is an analyst of KB Securities. She can be reached at kahye.hong@kbfg.com. -- Ed. Announcement of new facility— On Nov 18, Celltrion announced plans to build a third bio drug plant.— The plant will add 60,000L in output capacity to the first plant’s 100,000L and the second plant’s 90,000L
The author is an analyst of KB Securities. She can be reached at kahye.hong@kbfg.com. -- Ed. 3Q20 review: Quarterly earnings at record high— Celltrion Healthcare reported 3Q20 consolidated revenue of KRW463.4bn (+10.3% QoQ/+64.3% YoY) and OP of KRW127.7bn (+47.1% QoQ/+499.5% YoY). OP hit a record hi
The author is an analyst of KB Securities. She can be reached at kahye.hong@kbfg.com. -- Ed. Solid 3Q20 results Celltrion reported 3Q20 consolidated revenue/OP of KRW548.8bn (+28.0% QoQ/+89.9% YoY)/ 245.3bn (+34.9% QoQ/+137.8% YoY). Revenue was above our estimate/the market consensus by 15%/19%, wit
The Korea Health Industry Development Institute announced on Oct. 26 that exports from the Korean health industry hit an all-time high of US$2.3 billion last month, up 69 percent from a year earlier. The previous high is US$1.82 billion, which was recorded in March this year, and exports increased f