[Click eStock] "HK Innoen, K-CAB Leads Continued Domestic and International Performance Growth"

NH Investment & Securities forecasted on the 2nd that "HK Innoen will continue its growth trend, driven by the growth of its flagship product, the esophagitis treatment K-CAB, and the expansion of domestic and international sales channels."

Han Seung-yeon, an analyst at NH Investment & Securities, stated in a report on the same day, "HK Innoen's first-quarter performance improvement was led by K-CAB," and analyzed, "K-CAB's domestic sales in the first quarter reached 50.5 billion KRW, a 110% increase compared to the first quarter of last year, with exports of 1.3 billion KRW and royalty income from China of 1 billion KRW."

HK Innoen recorded sales of 212.6 billion KRW in the first quarter of this year, a 15% increase compared to the same period last year. Operating profit rose by 206% to 17.3 billion KRW.

The analyst explained, "According to the pharmaceutical and bio data platform UBIST, K-CAB prescription amounts grew by 27%, and inventory shipments were made to new partners," adding, "The decrease in sales commission rates also contributed to the strong performance growth."

He added, "We can expect overseas sales growth due to the recent expansion of export countries, additional indications in China, and increased awareness of P-CAB," and predicted, "The market size will continue to grow."

He noted, "Although the doctors' strike will negatively impact the performance of injectable fluids, it will not significantly damage HK Innoen's profitability," and expressed expectations that "Overseas momentum will increase in the second half of the year with the announcement of the US Phase 3 non-bismuth trial and accelerated discussions on European licensing agreements."