April 19, 2024

• 

[THE INVESTOR] Celltrion’s third-quarter earnings have been a shocking disappointment, said NH Investment and Securities on Nov. 12 lowering the target price to 270,000 won (US$238.85) from 340,000 won.

Its revenue came in at 199.3 billion won and operating profit dropped 43.6 percent on-year to 75.4 billion won. Its gross profit margin will continue to decline from lowering the price of Truxima and suspending operations of its first factory, to be resumed in the second half next year, said analyst Koo Wan-seong.

However, it is likely to turn in application for subcutaneous injection type Remsima in Europe and win approval from the US Food and Administration for Truxima this month. Expectations for obtaining FDA approval for Herzuma next month are also high, noted the analyst maintaining a “buy” recommendation. 

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