[Click eStock] Celltrion Receives Conditional EU Approval for COVID-19 Treatment... Target Price Up

[Asia Economy Reporter Ji Yeon-jin] Hana Financial Investment announced on the 29th that it is raising the target price to 425,000 KRW as Celltrion's COVID-19 treatment, Regkirona Injection, has received conditional approval in Europe.

Sun Min-jung, a researcher at Hana Financial Investment, said, "Celltrion mentioned that Regkirona Injection can produce 3.2 million doses considering market demand, but assuming production of 2 million doses, and considering that the price of pharmaceuticals in Europe is generally about 70% of that in the US, we assumed a price of $875 per dose, approximately 1 million KRW," adding, "Based on this assumption, Celltrion's sales of Regkirona Injection this year are estimated to be around 1.2 trillion KRW, and Celltrion's total sales this year are expected to grow 77% year-on-year to about 3.3 trillion KRW."

Regkirona Injection (generic name Regdanvimab), a COVID-19 treatment developed by Celltrion, has received a recommendation for use prior to formal marketing authorization from the European Medicines Agency (EMA). This means that before formal approval, individual European countries can use Regkirona Injection as needed.

Similar to the conditional use recommendations for COVID-19 antibody treatments developed by Regeneron and Eli Lilly, once the rolling review process is completed, formal marketing authorization is expected to be granted in Europe.

Regkirona Injection has become the third COVID-19 antibody treatment to receive conditional approval in Europe. The antibody treatments from Regeneron and Eli Lilly, which received emergency use authorization in the US, have supply contracts with the US government, which currently holds 3.1 million doses of COVID-19 antibody treatments. However, unlike the US government, European countries have not yet secured COVID-19 antibody treatments.

This content was produced with the assistance of AI translation services.