April 19, 2024
Stocks & Bonds
[EQUITIES] ‘Daewoong Pharma’s botulinum toxin likely to launch in US’
[THE INVESTOR] Daewoong Pharmaceutical’s botulinum toxin Nabota is drawing expectations for launch in the US, said SK Securities on Dec. 15, maintaining a “buy” recommendation and raising the target price to 180,000 won (US$165.21) from 160,000 won.
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The US Food and Drug Administration’s inspection of its factory in Hwaseong, Gyeonggi Province, was completed late last month and the results will be released in the second quarter of 2018, according to analyst Lee Dal-mi. When the facility is endorsed, it will not be long before the toxin obtains approval to sell in US, she added.
The pharmaceutical company’s fourth-quarter revenue will rise 11.5 percent on-year to 237.6 billion won propelled by strong sales of Crestor and Zemiglo, both introduced last year, explained the analyst.
Its operating profit, however, will fall 5.2 percent on-year to 14 billion won dented by R&D costs, Lee estimated.
By Hwang You-mee (glamazon@heraldcorp.com)
