April 26, 2024

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[THE INVESTOR] Celltrion’s rate of operating profit in the third quarter was the highest ever, said Hanwha Investment and Securities on Nov. 9, maintaining a “buy” recommendation and raising the target price to 230,000 won (US$206.43) from 140,000 won.

Its operating profit surged 89.3 percent on-year to 140.1 billion won, widely beating market consensus, and operating margin in particular reached a record 60.4 percent, said analyst Shin Hyeon-jun.

The biopharmaceutical company’s biosimilar Remsima is maintaining over 40 percent market share in Europe and is steadily gaining in the US, according to the analyst. Truxima, launched in Europe in February, has been showing solid growth and will be able to contribute to earnings growth when it begins to sell across Europe from the fourth quarter, forecast Shin. 

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