[Infostock Daily= Reporter An Hoe Hyun] Hana Financial Investment expects to continue its high growth with the launch of biosimilars while maintaining high margins even in old products launched on Celltrion on the 1st. In response, the company maintained its 'BUY' rating and raised its target stock price by 34.4% from 270,000 won to 363,000 won.
Celltrion's operating profit for the second quarter of this year grew 141% year-on-year to 189.5 billion won. The operating margin reached 46.9%, up 10.4% from the previous quarter, because the utilization rate increased as the operation of the expanded 1 plant normalized.
"If there are no issues such as the replacement of production lines or regular repairs, Celltrion’s separate operating profit margin is expected to reach more than 45%," said Hana Financial Investment.
Celltrion's Remsima and Truxima a expanded their market share based on the fact that they are the first biosimilars. Remsima has a market share of nearly 60% in Europe and Truxima a also has a market share of 18.1% in the U.S. market for nine months.
Reporter An Hoe Hyun ahh@infostock.co.kr
