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[EQUITIES] NH Investment positive on Celltrion

By 황유미
  • Published : Aug 10, 2016 - 14:49
  • Updated : Aug 10, 2016 - 14:49
[THE INVESTOR] NH Investment & Securities maintained a “buy” rating for Celltrion on Aug. 10, saying that the biopharma firm has met expectations in its second-quarter performance.

The company reported on Aug. 9 that its operating profit decreased 5.7 percent to 75.2 billion won (US$68.78 million) and sales increased 7.4 percent to 159.9 billion won from the same period last year.

“The revenue has grown as prescriptions for (its first antibody biosimilar) Remsima increased in Europe while the operating profit fell as it reflected 15.7 billion won spent in R&D,” said Lee Seung-ho, an analyst at NH.

“There is a possibility that it will release Remsima in the US on Oct. 3.”

By Hwang You-mee (glamazon@heraldcorp.com)