Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Yungjin Pharmaceutical Co / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/yungjin-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:9781:1" rel="noopener">Yungjin Pharmaceutical Co (003520 KS)</a> earns 15% of total revenue from exports. The company mainly exports antibiotic product cephalosporins to Japan.</li>
<li>Yungjin’s export income declined 47% y/y in 2021 due to COVID. With Japan’s policy of reducing the usage of antibiotics, we are not upbeat on the recovery of this business.  </li>
<li>Yungjin’s outlicensed new drug candidate completed only phase 1 trial. If the candidate successfully completes later stages of trials, it is expected to be marketed only in 2024.</li>
</ul>



Yungjin Pharmaceutical Co (003520 KS) earns 15% of total revenue from exports. The company mainly exports antibiotic product cephalosporins to Japan.
Yungjin’s export income declined 47% y/y in 2021 due to COVID. With Japan’s policy of reducing the usage of antibiotics, we are not upbeat on the recovery of this business.  
Yungjin’s outlicensed new drug candidate completed only phase 1 trial. If the candidate successfully completes later stages of trials, it is expected to be marketed only in 2024.


Yungjin Pharm (003520 KS): Antibiotic Business on a Jeopardy; Long Way to Go Before New Drug Launch

Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Thematic (Sector/Industry)

<p>SillaJen Biotherapeutics (established in 2006) is indeed a rare breed in Korean pharmaceutical world. It is not a generic drug maker. It is not a biosimilar maker either. It makes new biomedical products. A majority of Korea's pharmaceutical makers are still generic drug makers. The likes of Celltrion and Samsung Bioepis have emerged as a biosimilar maker. But they are still a few. Biomedical makers are even rarer. Hanmi Pharmaceutical is one of these rare breeds. Now, another biomedical maker…</p>

SillaJen Biotherapeutics (established in 2006) is indeed a rare breed in Korean pharmaceutical world. It is not a generic drug maker. It is not a biosimilar maker either. It makes new biomedical products. A majority of Korea's pharmaceutical makers are still generic drug makers. The likes of Celltrion and Samsung Bioepis have emerged as a biosimilar maker. But they are still a few. Biomedical makers are even rarer. Hanmi Pharmaceutical is one of these rare breeds. Now, another biomedical maker…

SillaJen's December IPO: Valuation, Growth Expectation and IPO Timing

South Korea

Daewon Pharmaceutical Co., Ltd. manufactures and wholesales general and special drugs.  The Company's product includes antipyretics, analgesics, respiratory, anti-inflammatory, and metabolic drugs.  Daewon also produces health food products.

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Daewon Pharmaceutical (003220 KS)

Yungjin Pharm (003520 KS): Antibiotic Business on a Jeopardy; Long Way to Go Before New Drug Launch

Yungjin’s export revenue is declining due to weak demand of antibiotics in Japan. The company reported operating loss in 2021. New drug launch is...

Tina Banerjee

SillaJen's December IPO: Valuation, Growth Expectation and IPO Timing

SillaJen Biotherapeutics (established in 2006) is indeed a rare breed in Korean pharmaceutical world. It is not a generic drug maker. It is not a...

Sanghyun Park

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