[Click eStock] "Interojo, Expected to Enter US Market Next Year"

Sangsangin Securities analyzed on the 4th that Interojo is expected to enter the U.S. market starting next year. No investment opinion or target price was provided.

Interojo is a company specializing in contact lenses. Domestically, its main products are the proprietary brand 'Claren' series. Overseas, the business is conducted mainly through OEM and ODM. Junho Lee, a researcher at Sangsangin Securities, said, "Interojo's sales are concentrated in Japan, Europe, and domestically," adding, "Since sales in Asia are significant, as of 2022, color lens sales accounted for 67%, and clear lenses accounted for 33%."

Lee expected sales in the U.S. to begin next year. Currently, Interojo is awaiting approval from the U.S. Food and Drug Administration (FDA) for its silicone hydrogel clear lenses. He explained, "The FDA approval decision is expected within this year, and full-scale sales are anticipated from the second half of next year," adding, "Since the U.S. holds about 35% of the global contact lens market share, ranking first, it is expected to significantly contribute to sales growth."

He said, "Unlike Asia, the U.S. and Europe have a higher proportion of clear lenses than color lenses, currently accounting for 90%," and added, "Interojo plans to enter the U.S. market through OEM and ODM methods, so it is expected to have higher profit margins than its proprietary brand business segment."