April 25, 2024
Stocks & Bonds
[EQUITIES] ‘Green Cross likely to win FDA approval’
[THE INVESTOR] Green Cross will beat market expectations this year as it is likely to gain approval from the US Food and Drug Administration for its immunodeficiency treatment, said KB Investment and Securities on May 24, raising the target price to 180,000 won (US$159.67) from 165,000 won.
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The securities firm, however, maintained a “hold” recommendation citing that its valuations based on high price-earnings ratio could be a burden.
The pharmaceutical company will be boosted by the strong sales of herpes zoster vaccine Zostavax and human papillomavirus vaccine Gardasil, said analyst Seo Geun-heui.
Meanwhile its immune disorder therapy IVIG-SN is expected to win approval from the FDA, after three to six months of reinvestigation of additional materials, forecast the analyst.
Sales of its blood derivative products will rise both in domestic and overseas markets as the supply stabilizes, added Seo.
By Hwang You-mee (glamazon@heraldcorp.com)
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