Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hugel-inc" target="_blank" data-smartkarma-citation="entities:22860:1" rel="noopener">Hugel Inc (145020 KS)</a> reported strong 1Q25 result, with all key parameters recording double-digit growth. The robust growth was driven by balanced gains across all product portfolios.</li>
<li>In March, Hugel has fully commercialized Letybo in the U.S. through the partnership with Benev. The company aims to capture 10% market share in the U.S. within three years.</li>
<li>Earlier this month, Hugel has officially launched Botulax in UAE. This marked the second official launch in the Middle East, following the product’s debut in Kuwait.</li>
</ul>



Hugel Inc (145020 KS) reported strong 1Q25 result, with all key parameters recording double-digit growth. The robust growth was driven by balanced gains across all product portfolios.
In March, Hugel has fully commercialized Letybo in the U.S. through the partnership with Benev. The company aims to capture 10% market share in the U.S. within three years.
Earlier this month, Hugel has officially launched Botulax in UAE. This marked the second official launch in the Middle East, following the product’s debut in Kuwait.


Hugel Inc (145020 KS): Record High 1Q Earnings; US Commercialization and UAE Debut to Trigger Growth

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>AbbVie Inc. concluded 2024 with robust performance metrics, highlighted by a notable return to growth, despite significant challenges such as the $5 billion U.S. Humira sales erosion due to biosimilar competition.</li><li>The company reported a total revenue of $56.3 billion, surpassing its initial guidance by over $2 billion, with adjusted earnings per share recorded at $10.12, which is $0.49 above their previously forecasted midpoint.</li><li>On a segmented basis, AbbVie's "ex-Humira" platform, consisting primarily of Skyrizi and Rinvoq, demonstrated substantial growth.</li></ul>

AbbVie Inc. concluded 2024 with robust performance metrics, highlighted by a notable return to growth, despite significant challenges such as the $5 billion U.S. Humira sales erosion due to biosimilar competition.The company reported a total revenue of $56.3 billion, surpassing its initial guidance by over $2 billion, with adjusted earnings per share recorded at $10.12, which is $0.49 above their previously forecasted midpoint.On a segmented basis, AbbVie's "ex-Humira" platform, consisting primarily of Skyrizi and Rinvoq, demonstrated substantial growth.

AbbVie Inc.: An Analysis Of Its Immunology Market Expansion, Oncology Pipeline & ADC Strategy!

<ul>
<li>In 4Q24, <a href="https://www.smartkarma.com/entities/beigene-ltd" target="_blank" data-smartkarma-citation="entities:27352:1" rel="noopener">BeiGene (6160 HK)</a> reported U.S. sales of Brukinsa of $616M, up 97% YoY and 22% QoQ, with 60%+ of demand growth coming from expanded use in CLL. </li>
<li>Brukinsa holds 25% market share in new patient starts in the U.S. in CLL, followed by Calquence (20%). For the first time, Brukinsa’s quarterly U.S. revenue outpaced that of Calquence.</li>
<li>Beigene has guided for 2025 revenue of $4.9–5.3B (up 29–39% YoY), driven by Brukinsa’s U.S. leadership position and continued global expansion in both Europe and other markets.</li>
</ul>


In 4Q24, BeiGene (6160 HK) reported U.S. sales of Brukinsa of $616M, up 97% YoY and 22% QoQ, with 60%+ of demand growth coming from expanded use in CLL. 
Brukinsa holds 25% market share in new patient starts in the U.S. in CLL, followed by Calquence (20%). For the first time, Brukinsa’s quarterly U.S. revenue outpaced that of Calquence.
Beigene has guided for 2025 revenue of $4.9–5.3B (up 29–39% YoY), driven by Brukinsa’s U.S. leadership position and continued global expansion in both Europe and other markets.


BeiGene (6160 HK): Brukinsa Outpaces Competitor in 4Q US Sales; Solid Guidance for 2025

<ul><li>AbbVie has reported noteworthy third-quarter results for 2024, outperforming expectations with strong core growth driven largely by its ex-HUMIRA platform.</li><li>The company's diversified portfolio highlighted significant achievements, with sales reaching $260 million above forecasts and demonstrating robust mid-single-digit operational sales growth.</li><li>The impressive performance of SKYRIZI and RINVOQ has been particularly pivotal, contributing to a projected combined sales of over $17 billion for the year, surpassing initial expectations by $1.3 billion.</li></ul>

AbbVie has reported noteworthy third-quarter results for 2024, outperforming expectations with strong core growth driven largely by its ex-HUMIRA platform.The company's diversified portfolio highlighted significant achievements, with sales reaching $260 million above forecasts and demonstrating robust mid-single-digit operational sales growth.The impressive performance of SKYRIZI and RINVOQ has been particularly pivotal, contributing to a projected combined sales of over $17 billion for the year, surpassing initial expectations by $1.3 billion.

AbbVie Inc.: The SKYRIZI & RINVOQ Revolution: Capturing Market Share with Game-Changing Therapies! - Major Drivers

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hugel-inc" target="_blank" data-smartkarma-citation="entities:22860:1" rel="noopener">Hugel Inc (145020 KS)</a> achieved revenue and operating profit of KRW105B and KRW53B in 3Q24, up 24% and 55%, YoY, respectively. Both botulinum toxin and fillers performed strongly.</li>
<li>Botulinum toxin's overseas sales jumped 73% YoY during the quarter, thanks to the initial shipment to the U.S. in July and September and robust growth from the Asia-Pacific market.</li>
<li>After the favorable ruling of ITC, Hugel plans to officially launch Botulax later this year in the U.S. market via collaborations with its California-based partner Benev Company.</li>
</ul>



Hugel Inc (145020 KS) achieved revenue and operating profit of KRW105B and KRW53B in 3Q24, up 24% and 55%, YoY, respectively. Both botulinum toxin and fillers performed strongly.
Botulinum toxin's overseas sales jumped 73% YoY during the quarter, thanks to the initial shipment to the U.S. in July and September and robust growth from the Asia-Pacific market.
After the favorable ruling of ITC, Hugel plans to officially launch Botulax later this year in the U.S. market via collaborations with its California-based partner Benev Company.


Hugel Inc (145020 KS): Record High Quarterly Sales and Operating Profit in 3Q; US Launch to Start

United States

AbbVie Inc. researches and develops pharmaceutical products. The Company produces pharmaceutical drugs for specialty therapeutic areas such as immunology, chronic kidney disease, Hepatitis C, women's health, oncology, and neuroscience. AbbVie also offers treatments for diseases including Multiple Sclerosis, Parkinson's, and Alzheimer's disease.

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Abbvie Inc (ABBV US)

Hugel Inc (145020 KS): Record High 1Q Earnings; US Commercialization and UAE Debut to Trigger Growth

Hugel reports double-digit growth across all key parameters in 1Q25, driven by balanced gains in all product portfolios. The company aims to...

Tina Banerjee

AbbVie Inc.: An Analysis Of Its Immunology Market Expansion, Oncology Pipeline & ADC Strategy!

AbbVie Inc. concluded 2024 with robust performance metrics, highlighted by a notable return to growth, despite significant challenges such as the...

Baptista Research

BeiGene (6160 HK): Brukinsa Outpaces Competitor in 4Q US Sales; Solid Guidance for 2025

BeiGene's Brukinsa sees significant growth in U.S. sales, surpassing Calquence for the first time, with 60%+ demand growth from expanded use in...

Tina Banerjee

Hugel Inc (145020 KS): Record High Quarterly Sales and Operating Profit in 3Q; US Launch to Start

Hugel achieved revenue and operating profit of KRW105B and KRW53B in 3Q24, up 24% and 55%, YoY, respectively. The company plans to officially...

Tina Banerjee

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52-week Range

Market Cap (USDm)

P/E

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Hugel Inc (145020 KS): Record High 1Q Earnings; US Commercialization and UAE Debut to Trigger Growth

​Hugel reports double-digit growth across all key parameters in 1Q25, driven by balanced gains in all product portfolios. The company aims to...

Tina Banerjee

AbbVie Inc.: An Analysis Of Its Immunology Market Expansion, Oncology Pipeline & ADC Strategy!

AbbVie Inc. concluded 2024 with robust performance metrics, highlighted by a notable return to growth, despite significant challenges such as the...

Baptista Research

BeiGene (6160 HK): Brukinsa Outpaces Competitor in 4Q US Sales; Solid Guidance for 2025

​BeiGene's Brukinsa sees significant growth in U.S. sales, surpassing Calquence for the first time, with 60%+ demand growth from expanded use in...

Tina Banerjee

AbbVie Inc.: The SKYRIZI & RINVOQ Revolution: Capturing Market Share with Game-Changing Therapies! - Major Drivers

AbbVie has reported noteworthy third-quarter results for 2024, outperforming expectations with strong core growth driven largely by its ex-HUMIRA...

Baptista Research

Hugel Inc (145020 KS): Record High Quarterly Sales and Operating Profit in 3Q; US Launch to Start

​Hugel achieved revenue and operating profit of KRW105B and KRW53B in 3Q24, up 24% and 55%, YoY, respectively. The company plans to officially...

Tina Banerjee

Hugel reports double-digit growth across all key parameters in 1Q25, driven by balanced gains in all product portfolios. The company aims to...

BeiGene's Brukinsa sees significant growth in U.S. sales, surpassing Calquence for the first time, with 60%+ demand growth from expanded use in...

Hugel achieved revenue and operating profit of KRW105B and KRW53B in 3Q24, up 24% and 55%, YoY, respectively. The company plans to officially...