[Click eStock] "Isu Abxis, Improved Performance Through Expansion of Export Countries"

Daishin Securities on the 31st described Isu Abxis as a hidden powerhouse in the rare drug market and predicted that its performance will improve with the expansion of export countries.

Isu Abxis has commercialized treatments such as 'Abcertin' for Gaucher disease and 'Pavagal' for Fabry disease. It also possesses an innovative new drug pipeline including Alzheimer's treatments and anticancer drugs.

Han Song-hyeop, a researcher at Daishin Securities, explained, "Since turning profitable for the first time in the company's history in 2023 due to increased overseas sales, it has achieved profits for four consecutive quarters. We expect a decrease in cost ratio due to productivity improvements and fixed cost reductions."

It is estimated to achieve sales of 70.4 billion KRW and operating profit of 12.8 billion KRW this year, representing increases of 30% and 229% respectively compared to last year.

The researcher analyzed, "Following the COVID-19 pandemic, overseas expansion has accelerated, increasing exports of Abcertin and Pavagal. Instead of targeting advanced countries where Sanofi has strong influence, they focused on niche markets such as the Middle East, North Africa, and Russia." He added, "Expansion to additional countries is expected. As the mechanisms and efficacy of the innovative pipeline are verified, the possibility of licensing out to global big pharma companies is also increasing."