April 23, 2024

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[THE INVESTOR] Celltrion’s second-quarter earnings reached a record high, said Hyundai Motor Investment and Securities on July 27, raising the target price to 140,000 won (US$125.88) from 135,000 won.

Its revenue was 246.2 billion won and operating profit 138.3 billion won, both widely beating market expectations, said analyst Kang Yang-gu, adding that its 56.2 percent operating profit ratio was “amazing.”

Its flagship product Remsima tapped into the US market in earnest and expanded market share in Europe, and if it succeeds in strengthening its position in the US a high margin would be maintained in medium to long term, said the analyst. 

Its biosimilar antibody Truxima has been introduced in six European countries and will be rolled out in 20 countries. It is expected to have sales of over 100 billion won annually, estimated Kang. 

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