April 19, 2024

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[THE INVESTOR] NeoPharm will significantly grow next year as it launches new brands, expands distribution channels and enters China, said Hanwha Investment and Securities on Dec. 13, maintaining a “buy” recommendation and raising the target price to 47,600 won (US$43.57) from 38,000 won.

It has begun selling Dermatology, a cosmetics brand targeting middle-age customers, in October through a home shopping television channel, and its major brand Real Barrier is close to launch in China, said analyst Lee Seung-uk. 

Real Barrier will be released in China by local distributor King King Group in January 2018 and most of the products have already been approved by the authorities, said the analyst. 

It is enjoying the fourth quarter, a high season for moisturizers, and will grow following the expansion of distribution channels, he added.

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