Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

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<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

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<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 record high sales, operating profit, and net profit in 2024, with the strong performance of botulinum toxin and fillers backed by the company’s global expansion.</li>
<li>Hugel aims to launch botulinum toxin in the U.S. within 1H25. The company aims for a 10% U.S. market share for aesthetic purposes within three years from the product release.</li>
<li>Hugel aims to expand its presence in more than 80 toxin markets (from 67 now), 70 dermal filler markets (current 52), and more than 10 cosmetics markets by 2028.</li>
</ul>



Hugel Inc (145020 KS) reported record high sales, operating profit, and net profit in 2024, with the strong performance of botulinum toxin and fillers backed by the company’s global expansion.
Hugel aims to launch botulinum toxin in the U.S. within 1H25. The company aims for a 10% U.S. market share for aesthetic purposes within three years from the product release.
Hugel aims to expand its presence in more than 80 toxin markets (from 67 now), 70 dermal filler markets (current 52), and more than 10 cosmetics markets by 2028.


Hugel Inc (145020 KS): Record High Performance in 2024; Continued Global Expansion to Drive Growth

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<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 4% YoY increase in revenue to KRW89B, while operating profit grew 22% YoY to KRW37B in 4Q23. Revenue was mainly driven by strong demand filler.</li>
<li>In domestic market, Hugel’s Botulax maintained the largest market share for the eight consecutive years thanks to the long-standing safety and quality track records as well as holistic value-adding services.</li>
<li>Hugel has resubmitted biologics license application in the U.S. for BTX. In the coming year, Hugel plans to solidify its position in both the domestic and international BTX markets.</li>
</ul>



Hugel Inc (145020 KS) reported 4% YoY increase in revenue to KRW89B, while operating profit grew 22% YoY to KRW37B in 4Q23. Revenue was mainly driven by strong demand filler.
In domestic market, Hugel’s Botulax maintained the largest market share for the eight consecutive years thanks to the long-standing safety and quality track records as well as holistic value-adding services.
Hugel has resubmitted biologics license application in the U.S. for BTX. In the coming year, Hugel plans to solidify its position in both the domestic and international BTX markets.


Hugel Inc (145020 KS): Achieves Record High Revenue and Operating Profit in 4Q23

<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

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<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> got favorable preliminary ruling in US for its litigation with Medytox. The ruling revealed that the competitor’s claim of strain theft by Hugel is baseless.  </li>
<li>In March, Hugel received FDA approval for BTX product, Letybo in US. The company plans to launch Letybo in 2H24, while final ruling for the litigation is scheduled in October.</li>
<li>As BTX and HA filler grew steadily in domestic and overseas markets, 1Q24 sales grew 15% YoY to KRW74.3B, achieving the highest ever performance in the first quarter.</li>
</ul>



Hugel Inc (145020 KS) got favorable preliminary ruling in US for its litigation with Medytox. The ruling revealed that the competitor’s claim of strain theft by Hugel is baseless.  
In March, Hugel received FDA approval for BTX product, Letybo in US. The company plans to launch Letybo in 2H24, while final ruling for the litigation is scheduled in October.
As BTX and HA filler grew steadily in domestic and overseas markets, 1Q24 sales grew 15% YoY to KRW74.3B, achieving the highest ever performance in the first quarter.


Hugel Inc (145020 KS): Favorable Court Ruling Paves US Entry; Record High 1Q Sales

South Korea

Hugel, Inc. is a Bio-pharmaceutical company that focuses on developing beauty/cosmetics related products.  The Company's main products include botulinum toxin and fillers.

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Hugel Inc (145020 KS)