[Click eStock] "HK Innoen, No Medical Crisis... Continued Growth of 'K-CAB'"

Yuanta Securities analyzed on the 12th that "HK Innoen did not experience a decline in sales of infusion solutions despite the medical crisis, and the growth trend of its main product, the esophagitis treatment ‘K-CAB,’ continues."

Researcher Ha Hyun-soo of Yuanta Securities stated in a report, "HK Innoen is estimated to achieve sales of 219.6 billion KRW in the first quarter of this year, an 18.7% increase compared to the same period last year, and operating profit of 18.2 billion KRW, a 223% increase during the same period," adding, "This performance aligns with existing market consensus." He analyzed, "There was no decrease in infusion solution sales due to the medical crisis in the first quarter," and "The introduction effects of new products such as Kanab, co-marketed with Boryung, and Direct Duo from AstraZeneca likely offset all sales gaps caused by the termination of the MSD vaccine sales contract."

Researcher Ha also forecasted that the growth trend of K-CAB will continue. According to the pharmaceutical data analysis solution ‘UBIST,’ K-CAB’s prescription performance in the first quarter was 45.2 billion KRW, a 26.8% increase compared to the same period last year. He diagnosed, "Although there were concerns about a decrease in volume when HK Innoen changed the co-marketing partner for K-CAB from Chong Kun Dang to Boryung, solid prescription performance has continued." Accordingly, he analyzed, "K-CAB’s sales in the first quarter will reach 50.1 billion KRW," attributing this to "the effect of improved sales commission rates and stable inventory shipments due to the change in the sales company."

He further predicted, "Among the two ongoing Phase 3 clinical trials of K-CAB in the US conducted by Sebela US Inc., a US digestive pharmaceutical specialist company, results for Non-Erosive Reflux Disease (NERD) are expected in the third quarter of this year, and results for Erosive Esophagitis (EE) are expected in the first quarter of next year."