April 26, 2024

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[THE INVESTOR] Green Cross will remain solid, as its immune globulin intravenous product IVIG-SN is pending approval from the US Food and Drug Administration, said KB Investment and Securities on Jan. 5, maintaining a “buy” recommendation and raising the target price to 250,000 won (US$235.50) from 230,000 won.

The application and approval for the biopharmaceutical product may be completed in the first half of this year, while a blood derivatives plant in Canada will be completed within 2018, said analyst Seo Geun-heui.

The firm’s revenue this year will rise 9.7 percent on-year to 1.41 trillion won, and operating profit 13.8 percent to 110.4 billion won, estimated the analyst. 

Its earnings in the fourth quarter last year, though, will miss market consensus at 324.1 billion won revenue and 6.8 billion won operating profit. Concerns over the slow earnings have recently dented its stock price, noted Seo.

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