▶주메뉴 바로가기

▶본문 바로가기

The Korea Herald
검색폼

THE INVESTOR
March 29, 2024

Stocks & Bonds

[EQUITIES] ‘Green Cross needs another year to enter US’

  • PUBLISHED :November 24, 2016 - 17:52
  • UPDATED :November 24, 2016 - 17:52
  • 폰트작게
  • 폰트크게
  • facebook
  • sms
  • print

[THE INVESTOR] The license application for Green Cross' primary immunodeficiency diseases treatment will be delayed for about a year leaving investors in the dark, according to KTB Investment on Nov. 24, lowering the target price to 200,000 won (US$168.98) from 220,000 won.

The South Korean pharmaceutical company has been asked by the US Food and Drug Administration to turn in supplementary data to process biologics license application for its IVIG-SN. 




“It was not about the product’s efficacy or safety, but (FDA) asked for more data regarding the manufacturing process,” said analyst Lee Hye-rin, adding that requests for additional data is common in the application process.

It will take about a year, however, to be granted final approval, which originally was expected to be delivered within this year, said the analyst.

“Due to the delay, we will remove IVIG-SN from the 2017 revenue outlook and lower that for 2018 to 20 billion won,” said Lee.

The securities firm maintained a “buy” recommendation and “most favorable” opinion for Green Cross as “the risk is not big and there are no bad signals regarding the mid- to long-term growth strategy.”

By Hwang You-mee (glamazon@heraldcorp.com)

EDITOR'S PICKS