bullish
Green Cross (006280 KS): Alyglo Is Accelerating U.S. Market Entry; Base Business Shows Strength
311 Views24 Sep 2024 23:37
SUMMARY
- Green Cross (006280 KS) has gained access to 80% of privately insured members in the U.S. for blood product Alyglo, which has been included in formularies of three major insurers.
- Green Cross targets to generate $50M revenue from Alyglo this year. The target seems to be conservative. The company further aims to sustain annual growth of 50%+, which is achievable.
- The company reported sequential improvement in 2Q24, with 17% QoQ revenue growth and significant improvement in gross margin. Revenue growth of 7–8% is expected during 2024–2026.
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Rising
Tina Banerjee
Global Healthcare Analyst
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- Green Cross (006280 KS): Turns Profitable in Q2; All Eyes on the Maiden US Approval of Blood Product16 Aug 2023
- Green Cross (006280 KS): Strengthening Base Business; US Entry Remains Key Catalyst19 Oct 2022
- Green Cross (006280 KS): Hope Still Remains for the U.S. Approval of Blood Derivative Injection23 Jun 2022
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