Hana Financial Investment "Daewoong Pharmaceutical, Target Price 220,000 Won... Nabota Overseas Sales Increase"

[Asia Economy Reporter Park So-yeon] Hana Financial Investment on the 20th gave a buy rating and a target price of 220,000 KRW for Daewoong Pharmaceutical.

Hana Financial Investment forecasted that Daewoong Pharmaceutical's sales this year will increase by 7.9% from the previous year to 1.2439 trillion KRW. Operating profit is expected to reach 105.2 billion KRW, up 18.3% year-on-year.

Jae-kyung Park, a researcher at Hana Financial Investment, analyzed, "Daewoong Pharmaceutical's performance has been steadily improving since the second quarter of 2021 due to growth in botulinum toxin sales, an increase in the sales proportion of pharmaceutical products with low cost ratios, and a decrease in one-time costs such as litigation expenses that impaired profitability in 2020."

It is expected that overseas sales of 'Nabota,' a botulinum toxin developed in-house by Daewoong Pharmaceutical, will increase significantly. Hana Financial Investment projected that Nabota's sales this year will increase by about 50% compared to the same period last year, reaching 119.1 billion KRW. Sales in the European market are scheduled to begin in the second half of this year, and China is currently undergoing regulatory approval procedures after completing Phase 3 clinical trials.

Fexuprazan, a P-CAB class gastroesophageal reflux disease treatment drug, which was approved as a domestic new drug by the Ministry of Food and Drug Safety at the end of last year, is scheduled to be launched domestically in the third quarter of this year.

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