[THE INVESTOR] Daewoong Pharmaceutical has a marketable pipeline even after it rolls out botulinum toxin Nabota in the US this year, said Kiwoom Securities on March 7, suggesting a “buy” recommendation and 240,000 won (US$224.40) target price.
Investors should consider that its revenue will expand from releasing Nabota in the US and Europe, that its existing drugs are selling well at home and overseas. It now has a strong and viable pipeline, said analyst Lee Ji-hyeon.
Moreover, Evolus, its sales partner in the US and Europe, has been acquired by Strathspey Crown, a US private equity fund with strong distribution channels across hospitals in the country, pointed out the analyst.
Daewoong has launched antibiotics in the US, the first generic developed by a Korean pharmaceutical company, and the fact that its chemical and bio drug candidates are being developed aiming to become the world’s first innovation or follow-on drugs demonstrates its technological capacity, said Lee.
By Hwang You-mee (email@example.com)