bullish
Green Cross (006280 KS): Turns Profitable in Q2; All Eyes on the Maiden US Approval of Blood Product
248 Views16 Aug 2023 22:29
SUMMARY
- Green Cross (006280 KS) reported decent Q2 performance, with revenue and operating profit increasing 2% and 81%, YoY, respectively. Vaccine and blood products business remained the major growth drivers.
- The company has re-submitted marketing application for GC5107, a blood derivative product to the FDA, which has accepted it with a target action date of January 13, 2024.
- If approved, the company aims to enter the U.S. market in 2H24. Supply shortage amid increasing demand makes the U.S. an attractive market for the company’s blood products.
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Rising
Tina Banerjee
Global Healthcare Analyst
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