[Click e-Stock] "Green Cross Escapes Losses with Aliglo's US Performance"

On January 20, IBK Investment & Securities raised its target price for Green Cross from 190,000 won to 220,000 won, stating that expectations for expansion in the US market and achievement of mid- to long-term performance are rising as Aliglo, launched in the US market, met last year’s performance targets. The firm maintained its “Buy” investment rating.

Green Cross’s consolidated operating results for the fourth quarter of last year are expected to meet market expectations, with sales of 477.4 billion won (up 8.3% year-on-year) and operating profit of 2 billion won (returning to profit).

Jung Isu, a researcher at IBK Investment & Securities, commented, “The solid sales growth of Aliglo, a high-margin treatment for congenital immunodeficiency, and the positive impact of the rise in the won-dollar exchange rate appear to have contributed positively to the results.” He estimated that Aliglo exceeded its initial annual sales guidance of 100 million dollars (approximately 150 billion won).

This year, the US sales of Aliglo, the company’s core product, are expected to expand to 150 million dollars annually, which is anticipated to drive profitability improvement. The consolidated results for 2026 are estimated at 2.126 trillion won in sales (up 7.9%) and 96.6 billion won in operating profit (up 45.1%).

Jung forecasted, “As the sales proportion of high-profit products increases and losses at subsidiaries GC Cell and ABO Holdings are reduced, the operating margin is expected to continue improving from 3.3% last year to 4.5% this year.” He projected that the plasma fractionation segment (accounting for 30% of sales) would grow by 16%, while the prescription drug segment (25% of sales) would grow by 6% due to the expansion of overseas markets for the rare disease treatment Hunterase.