April 25, 2024

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[THE INVESTOR] Kolmar Korea’s acquisition of CJ Healthcare will add value to the company, said Daishin Securities on Feb. 21, upgrading the recommendation to a “buy” from a “market perform” and maintaining the 88,000 won (US$81.94) target price.

The group is expanding fast with a clear and coherent direction since President Yoon Sang-hyeon took the helm in 2016, by taking over two ODM makers in the US and now CJ Healthcare, said analyst Park Eun-jeong.

The 1.31 trillion won deal will serve as a stepping-stone for Kolmar to advance as a global CMO company as it has secured an R&D portfolio that extends drastically to include virus vaccines, IV and cancer treatments from its current tablets and ointments, said the analyst. 

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