(Health Korea News / Chang-yong Lee) Securities analysts predicted that Green Cross’s operating profit in the third quarter of this year would record 45 billion won, a 37.3% increase compared to the same period last year. Sales in the same quarter were expected to be 474 billion won, up 7.9% compared to the same quarter last year. The analysis is that this is due to the sales of ‘ALYGLO’ to the US, which occurred in July.
On the 17th, Mirae Asset Securities analyst Seo Mi-hwa said in a report titled ‘The impact of Green Cross Aliglo is beginning to emerge’ that the sales and operating profit of Green Cross in 2024 will grow by 5.4% and 85.8%, respectively, compared to last year, to KRW 1.7144 trillion and KRW 64 billion, respectively. It was expected to reach Won.
Researcher Seo predicted that sales of blood products in the third quarter of this year would grow 30.7% compared to the same period last year, reaching KRW 130.6 billion. Aliglo sales to the U.S. have been occurring since July, and it is estimated that sales of about 30 billion won (separate basis) have been generated so far.
Prescription drug sales are expected to reach 110.6 billion won, up 6% compared to the same period last year. Overseas sales appear to have increased as exports of Hunterase to Russia, which had been low last year, normalized. On the other hand, in Korea, prescription drug sales were expected to decrease slightly compared to the same period last year due to the impact of the medical strike.
In the case of vaccines, compared to last year, the supply of domestic essential immunizations (NIP (National Immunization Program)) has increased (1.74 million doses in 2022 → 2.65 million doses in 2023), but competition in the private flu vaccine market has intensified and some of the domestic flu vaccine supply has increased. Due to the delay to the fourth quarter, sales were expected to reach KRW 93.6 billion, down 7.6% from the same period last year.
Analyst Seo said, “Currently, Aliglo’s listing on the formulary of major U.S. insurance companies has occurred faster than expected. “We have also completed contracts with the three major PBM companies (CVS, United Healthcare, and Cigna) and eight specialty pharmacies, which were our annual goals,” he said, raising the target stock price from 170,000 won to 200,000 won and maintaining a buy opinion. .
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