Report

3Q17 review: investor appetite to grow further

  • Maintain BUY on a favorable regulatory turn in US regarding biosimilar reimbursement plan and the prospect of a robust increase in Truxima’s European sales in 4Q17.
  • Raise target price to KRW90,000 as we adjust up our forecasts for each drug’s market share and growth rate.
Underlying
Celltrion Healthcare Co. Ltd.

Celltrion Healthcare is engaged in the manufacturing, distribution and retail sale of a line of biological medicines. Co. provides Remsima, an infliximab biosimilar used for the treatment of rheumatoid arthritis, ankylosing spondylitis, adult and child crohn's disease, psoriasis, psoriatic arthritis and ulcerative colitis. Co. also provides Truxima, a rituximab biosimilar used for the treatment of non-hodgkin lymphomas, chronic lymphocytic leukemia, microscopic polyangiitis and rheumatoid arthritis.

Provider
Hyundai Motor Investment & Securities
Hyundai Motor Investment & Securities

Hyundai Motor Investment & Securities is the investment banking arm of the Hyundai Motor Group. The company offers stock brokerage and advisory services; derivative products brokerage and advisory services; wrap account portfolio management services; and VIP wealth management and tax planning, institutional equities, derivatives, and futures brokerage services, as well as sells investment and institutional products. It also provides equity offering, ABS, real estate PF and real estate PF securitization, offshore SOC, structured financing, asset securitization, real estate sales, IPO advisory, and private equity fund and fund management services; and CMA/RP portfolio management and fixed income based investments, as well as involved in the issuance, management, and brokerage of OTC derivatives. In addition, the company offers research services, including macro economic forecasts and stock market outlook, industry overviews and forecasts, fixed income strategies, corporate credit analysis, and valuation analysis. Further, it offers a range of retirement and pension services for individuals and corporate members; portfolios and asset allocation consulting and marketing services; proposing retirement pension plans; contract and payment management services; pension plan advisory and actuarial services; and system development and implementation services, as well as operates call centers for retirement pension services, etc. 

Analysts
Yang Ku Kang

Other Reports on these Companies
Other Reports from Hyundai Motor Investment & Securities

ResearchPool Subscriptions

Get the most out of your insights

Get in touch