The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed. Hanmi Pharm posted consolidated 2Q22 sales of W316.5bn and OP of W29.6bn, with OP coming in slightly below our estimate. Beijing Hanmi led consolidated OP growth, booking OP of W17.1bn. The strength
The U.S. Food and Drug Administration (FDA) will make a decision on awarding marketing approval for Rolontis, the first new biotech drug candidate of Hanmi Pharmaceutical, in September. According to the FDA’s Prescription Drug User Fee Act (PDUFA), Rolontis’ approval deadline is set at Sept. 9.The F
The Embassy of the United Arab Emirates (UAE) has set out to actively encourage Korean SMEs, non-profit organizations and high schools to apply for the Zayed Sustainability Prize.The Zayed Sustainability Award, launched in 2008, was inspired by the sustainability and humanitarian legacy of the late
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
The birth of a Korean COVID-19 vaccine is imminent. Korean public health authorities are expected to approve SK Bioscience’s SKY Covione (candidate substance GBP510) as early as this week. If the final approval is given as expected, Korea's first and only COVID-19 vaccine will be used at vaccina
The authors are analysts of Shinhan Investment Corp. They can be reached at shawn1225@shinhan.com and jhwon@shinhan.com, respectively. – Ed. Decent 2Q22 earnings expected with removal of QA delay issuesSK Bioscience is expected to record sales of KRW140.4bn (-2.9% YoY) and operating profit of KRW64.
The authors are analysts of Shinhan Investment Corp. They can be reached at shawn1225@shinhan.com and jhwon@shinhan.com, respectively. – Ed. EULAR 2022 held both offline and online for the first time since COVID-19 outbreakWe participated in the annual European Alliance of Associations for Rheumatol
The author is an analyst of KB Securities. He can be reached at kimtaehee@kbfg.com. -- Ed. Outstanding efficacy and safety data for Remsima SC showcased at EULAR 2022 Celltrion showcased outstanding efficacy and safety data for Remsima SC at EULAR 2022 (Jun 1-4). According to data presented, patient
Samsung Electronics Vice Chairman Lee Jae-yong is visiting Europe, including the Netherlands, from June 7 to 18. Lee will visit ASML in Veldhoven, the Netherlands, the only producer of extreme ultraviolet (EUV) exposure equipment for advanced semiconductor microfabrication processes. He visited ASML
The Financial Supervisory Service (FSS) announced on May 31 that it would set up a task force in June in order to eradicate illegal short selling, which is one of the Yoon Suk-yeol government’s national policy goals.According to the Korea Exchange, on May 31, foreign investors accounted for 84.49 pe
The Yun Suk-yeol administration is set to resume support for large-scale R&D projects related to nuclear power plants. The government will invest about 750 billion won by 2030 in innovative small module reactor (i-SMR) technology development project and a nuclear power plant decommissioning technolo
Samsung Electronics will implement a new personnel management system starting this month, including a senior track system that allows highly skilled employees to work for the company after their retirement.The company announced on its internal bulletin board on May 10 that the new personnel manageme
Samsung Electronics Co. has released a white paper that lays out the company’s vision for securing global frequency bands for 6G, the next generation communications technology. The paper, titled “6G Spectrum: Expanding the Frontier,” discusses ways to obtain the spectrum needed to achieve the compan
Daewoo Engineering and Construction (Daewoo E&C) announced on May 5 that it will re-enter the U.S. construction market in earnest based on synergies with Jungheung Group, its parent company.From April 30 to May 9, Jungheung and Daewoo E&C executives, including Jungheung vice chairman Jung Won-joo, v
The K-mRNA Consortium, launched in June last year, is failing due to clinical trial delays and members’ move to go alone.Hanmi Pharmaceutical and GC Pharma are expanding their own mRNA business these days. Specifically, the former is planning to invest 10 billion won in drug substance manufacturing
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
Samsung Biologics’ market capitalization has surpassed that of Lonza, the world’s largest biopharmaceutical contract manufacturing organization (CMO) company.Samsung Biologics’ market cap stood at 59.43 trillion won as of April 28, exceeding the 42.85 billion Swiss francs (about 55.62 trillion won)
Deputy Prime Minister Hong Nam-ki said that South Korea should be a member of the World Government Bond Index (WGBI) in view of the scale of its economy, government bond market status, and foreign capital inflow and outflow.The WGBI is one of the three major global bond indices and covers 23 countri
The Korea display industry has recommended that the Korean government designate next-generation display technologies such as organic light emitting diode (OLED) and quantum dot (QD)-OLED technologies as national strategic technologies. The display industry wants to make leading-edge display technolo
Ildong Pharmaceutical announced on April 18 that it has established the Global Business Headquarters to strengthen its overseas business.The new organization will oversee the Overseas Business Development Department and the Drug Import and Export Department, and will be in charge of establishing a U