[Asia Economy Reporter Park Jihwan] Eugene Investment & Securities maintained its 'Buy' rating and target price of 70,000 KRW for Celltrion Healthcare on the 17th, stating that "risks are decreasing and investment attractiveness is increasing."
Researcher Han Byunghwa of Eugene Investment & Securities estimated, "Sales and operating profit in 2020 are expected to reach 1.7 trillion KRW and 204.2 billion KRW respectively, representing increases of 54% and 192% compared to the previous year," adding, "This is due to the full-scale sales of Truxima and Herzuma in the US market, increased sales of Inflectra, and the start of Ramsima SC sales in Europe."
He also explained that the sales contract for the existing Ramsima has been favorably revised, and the profit margin of Ramsima is expected to improve around the second half of the year when inventory is depleted.
Researcher Han emphasized, "US sales of Inflectra, which were around 100 billion KRW last year, are expected to double this year compared to the previous year," adding, "Following UnitedHealth, the top private insurance company, Inflectra has been listed with two to three companies within the top 10."
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