Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>In this insight, we discuss the alpha generation through companies that announced share buybacks in the Korean stock market in March and April 2025.</li>
<li>There were 40 companies in the Korean stock market that announced share buybacks in the past two months. On average, the share buyback announcements represented 1.7% of outstanding shares.</li>
<li>Astute traders should put alert signals on share buyback announcements in Korea with more than 3% outstanding shares. </li>
</ul>


In this insight, we discuss the alpha generation through companies that announced share buybacks in the Korean stock market in March and April 2025.
There were 40 companies in the Korean stock market that announced share buybacks in the past two months. On average, the share buyback announcements represented 1.7% of outstanding shares.
Astute traders should put alert signals on share buyback announcements in Korea with more than 3% outstanding shares. 


Alpha Generation Through Share Buybacks in Korea: Bi-Monthly (March and April 2025)

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/celltrion-inc" target="_blank" data-smartkarma-citation="entities:991:1" rel="noopener">Celltrion Inc (068270 KS)</a> achieved 178% YoY and 21% QoQ revenue growth to KRW1,064B in 4Q24, driven by rapid growth of new products such as Remsima SC, Yuflyma, and Steqeyma.</li>
<li>Celltrion guided for 2025 revenue of KRW5.0T, up 43% YoY. Celltrion is targeting COGS ratio in 20%s by 4Q25. Operating profit margin is expected to recover to 30%s in 2025.  </li>
<li>New launches, COGS improvement, and cost efficiency will drive 2025 growth. This year, Celltrion received European approval for four biosimilars and three biosimilars are under regulatory review in the U.S.</li>
</ul>



Celltrion Inc (068270 KS) achieved 178% YoY and 21% QoQ revenue growth to KRW1,064B in 4Q24, driven by rapid growth of new products such as Remsima SC, Yuflyma, and Steqeyma.
Celltrion guided for 2025 revenue of KRW5.0T, up 43% YoY. Celltrion is targeting COGS ratio in 20%s by 4Q25. Operating profit margin is expected to recover to 30%s in 2025.  
New launches, COGS improvement, and cost efficiency will drive 2025 growth. This year, Celltrion received European approval for four biosimilars and three biosimilars are under regulatory review in the U.S.


Celltrion (068270 KS): Record High Sales in 4Q; Sequentially Weaker Profit; Solid Outlook for 2025

Thematic (Sector/Industry)

<ul>
<li>Prescription drug sales in Japan in FY25 increased 0.6% YoY to ¥10.8T on an NHI price basis. Takeda Pharmaceutical and Daiichi Sankyo remained the top 2 pharmaceutical companies.</li>
<li>Samsung Biologics signed $514M CDMO deal with an undisclosed U.S.-based pharmaceutical company. Celltrion has received approval in Korea to conduct phase 3 clinical trial for its Keytruda biosimilar candidate CT-P51.</li>
<li>Dr. Reddy’s Laboratories expands its strategic partnership with Sanofi to introduce RSV drug, Beyfortus in India. Medanta is entering North-East India by building a 400-bed super specialty hospital in Guwahati.</li>
</ul>


Prescription drug sales in Japan in FY25 increased 0.6% YoY to ¥10.8T on an NHI price basis. Takeda Pharmaceutical and Daiichi Sankyo remained the top 2 pharmaceutical companies.
Samsung Biologics signed $514M CDMO deal with an undisclosed U.S.-based pharmaceutical company. Celltrion has received approval in Korea to conduct phase 3 clinical trial for its Keytruda biosimilar candidate CT-P51.
Dr. Reddy’s Laboratories expands its strategic partnership with Sanofi to introduce RSV drug, Beyfortus in India. Medanta is entering North-East India by building a 400-bed super specialty hospital in Guwahati.


APAC Healthcare Weekly (May 4)- Takeda Pharma, Samsung Biologics, Celltrion, Dr. Reddy’s, Medanta

<ul>
<li>Celltrion Inc (068270 KS) announced meaningful increase in dividends (including both cash and stock dividends).</li>
<li><em><strong> Celltrion will pay out stock dividend of 0.05 for shareholders as of record in 2024, this will be 150% higher than the average stock dividend in the past three years. </strong></em></li>
<li>Celltrion will also pay out cash DPS of 750 won for shareholders as of record in 2024, which is more than double the average DPS in the past three years. </li>
</ul>


Celltrion Inc (068270 KS) announced meaningful increase in dividends (including both cash and stock dividends).
 Celltrion will pay out stock dividend of 0.05 for shareholders as of record in 2024, this will be 150% higher than the average stock dividend in the past three years. 
Celltrion will also pay out cash DPS of 750 won for shareholders as of record in 2024, which is more than double the average DPS in the past three years. 


Celltrion: Meaningful Increase in Cash and Stock Dividends

<ul>
<li>
<a href="https://www.smartkarma.com/entities/celltrion-inc" target="_blank" data-smartkarma-citation="entities:991:1" rel="noopener">Celltrion Inc (068270 KS)</a> achieved 31% YoY revenue growth to KRW882B in 3Q24, driven by the rapid growth of new products such as Remsima SC, Yuflyma, and Vegzelma.</li>
<li>The company is maintaining 2024 sales guidance of KRW3.5T (up 60% YoY), which indicates sequentially improved quarterly sales in 4Q24. Margin improvement is expected to continue.</li>
<li>In August, Celltrion received EU approval for Steqeyma, biosimilar for autoimmune disease treatment Stelara. Celltrion aims to commercialize 22 biosimilars by 2030, thereby targeting a pipeline market size of $182B.</li>
</ul>



Celltrion Inc (068270 KS) achieved 31% YoY revenue growth to KRW882B in 3Q24, driven by the rapid growth of new products such as Remsima SC, Yuflyma, and Vegzelma.
The company is maintaining 2024 sales guidance of KRW3.5T (up 60% YoY), which indicates sequentially improved quarterly sales in 4Q24. Margin improvement is expected to continue.
In August, Celltrion received EU approval for Steqeyma, biosimilar for autoimmune disease treatment Stelara. Celltrion aims to commercialize 22 biosimilars by 2030, thereby targeting a pipeline market size of $182B.


Celltrion Inc (068270 KS): Record High Sales in 3Q; Pipeline Progress Entails Long-Term Growth

South Korea

Celltrion Inc. produces and sells biosimilar products and also provides consignm ent processing service for other companies.  The Company's main product is Abata cept which is for arthritis treatment

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Celltrion Inc (068270 KS)

Celltrion (068270 KS): Record High Sales in 4Q; Sequentially Weaker Profit; Solid Outlook for 2025

Celltrion reported 178% revenue growth in 4Q24. The company guided for 2025 revenue of KRW5.0T, up 43% YoY. Operating profit margin is expected to...

Tina Banerjee

APAC Healthcare Weekly (May 4)- Takeda Pharma, Samsung Biologics, Celltrion, Dr. Reddy’s, Medanta

Takeda retained top slot in domestic market. Samsung Biologics signed major CDMO deal with US client. Celltrion got approval to start trial of...

Tina Banerjee

Celltrion: Meaningful Increase in Cash and Stock Dividends

Celltrion Inc announced meaningful increase in dividends. Celltrion will pay out stock dividend of 0.05 for shareholders as of record in 2024 (up...

Douglas Kim