May 02, 2024

• 

[THE INVESTOR] TissueGene’s novel knee osteoarthritis treatment Invossa has been successfully introduced in Korea and the likelihood of winning approval in the US has heightened, boosting its value, said Shinyoung Securities on Dec. 13, maintaining a “buy” recommendation and raising the target price to 72,000 won (US$65.92) from 39,000 won.

Since the rollout in November, Invossa has been prescribed over 100 times, despite the fact that there are only 282 hospitals in Korea that can prescribe the gene therapy, said analyst Eom Yeo-jin.

The high pricing strategy will be effective in global markets, and as it has proven its capability for production and introduction, it will be more likely to obtain approval in the US, underlined the analyst. 

Invossa’s value in the US market is estimated to be 44.29 trillion won and when the therapy gets a license, the target price may be raised further, she added.

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