April 19, 2024

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It filed an application for its botulinum toxin in China in February and is likely to gain approval in the latter half next year. In the US, it is conducting phase 3 clinical trials and will be able to roll out products in 2021, said analyst Bae Gi-dal..

Its revenue in the first quarter will hike 31.7 percent on-year to 53.3 billion won and operating profit by 33.7 percent to 28.3 billion won, satisfying market expectations, forecast Bae.

Operations of its new factory, with manufacturing capacity 10 times higher, is propelling a sharp rise in revenue, and sales of botulinum toxin in particular will surge 82.1 percent to 35.5 billion won, said the analyst. 

Both the size and profits of the biopharmaceutical company will rise over 20 percent and operating profit ratio will be higher than 50 percent, underlined Bae.

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