[Click eStock] "Celltrion Healthcare, Turnaround Deepens"

Eugene Investment & Securities Recommends 'Buy' with Target Price of 80,000 Won... Closing Price on 6th at 67,600 Won

[Asia Economy Reporter Kum Boryeong] An analysis has emerged that the turnaround of Celltrion Healthcare is becoming more pronounced.

According to Eugene Investment & Securities on the 9th, Celltrion Healthcare's fourth-quarter results last year showed sales of 313.6 billion KRW and operating profit of 42.8 billion KRW. Researcher Han Byunghwa of Eugene Investment & Securities explained, "The operating profit margin recovered to double digits for the first time since the fourth quarter of 2017," adding, "The price decline of Remsima has stopped, resulting in minimal occurrence of variable costs, and the start of sales of Truxima and Herzuma, which have high margins in the U.S. market, is the reason for the recovery of profit margins."

Expectations for the U.S. market are high this year. The full-scale sales of Truxima and Herzuma and the acceleration of sales growth of Inflectra are anticipated. Researcher Han said, "Truxima achieved a double-digit market share just two months after being sold by the marketing company Teva, confirming early success. Expectations for Herzuma are not high, but since it is the most prescribed biosimilar in Europe, it is expected to perform at an average level," and added, "Inflectra, which had been sluggish, is benefiting from expanded insurance coverage, and the demand from the marketing company Pfizer is understood to have increased to about twice the previous year."

Eugene Investment & Securities has issued a 'Buy' investment opinion on Celltrion Healthcare. The target stock price was raised from 70,000 KRW to 80,000 KRW. The closing price on the 6th was 67,600 KRW.

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