In today’s briefing:
- Seasonal Play: FDC Ltd- Electral’s Summer Surge and Expanding into Growing Categories
- Sumitomo Pharma (4506 JP): Guidance Revised Upward for FY25 Driven by North America
- ABEO: Zevaskyn Approved by FDA Raising Valuation to 11
- Hanmi Pharm (128940 KS): Export Drives 1Q25 Performance; China Business Is Recovering
Seasonal Play: FDC Ltd- Electral’s Summer Surge and Expanding into Growing Categories
- FDC Limited is a pioneer in India’s pharmaceutical landscape, especially in Oral Rehydration Salts (ORS) and specialized formulations.
- The company’s flagship brand, Electral, continues to be a major revenue contributor, despite margin pressures from regulatory price caps.
- FDC’s strategic capex in ophthalmic, ear, and nasal drops business, coupled with its domestic and international presence, positions it strongly for sustained growth.
Sumitomo Pharma (4506 JP): Guidance Revised Upward for FY25 Driven by North America
- Sumitomo Pharma (4506 JP) revised revenue guidance for FY25 to ¥399B from previous ¥381B. New guidance represents 27% YoY growth.
- This comes on the back of higher than expected sales in North American segment, which contributed 61% sales in 9MFY25.
- Operating profit guidance have been revised to ¥43.2B from ¥30B on controlled cost and higher sales.
ABEO: Zevaskyn Approved by FDA Raising Valuation to 11
- On April 29, 2025, Abeona Therapeutics, Inc. (ABEO) announced that the U.S. Food and Drug Administration (FDA) has approved Zevaskyn (prademagene zamikeracel) for the treatment of wounds in adult and pediatric patients with recessive dystrophic epidermolysis bullosa (RDEB).
- The company announced that the wholesale acquisition cost of Zevaskyn will be $3.1 million, which is significantly higher than what we had been modeling ($1.2 million).
- Management also guided that following the commercial launch in the third quarter of 2025, the company expects 10-14 patients to be treated and revenue from those treatments to be recognized by the end of this year.
Hanmi Pharm (128940 KS): Export Drives 1Q25 Performance; China Business Is Recovering
- Hanmi Pharm (128940 KS) recorded 7% YoY growth in standalone revenue in 1Q25, driven by 47% YoY jump in export revenue to KRW68B due to increased clinical supply to Merck.
- Despite high base effect caused by respiratory outbreak in China, revenue and operating profit of Beijing Hanmi jumped 29% and 168%, QoQ, respectively, indicating continuous business recovery.
- Hanmi Pharm is expected to launch next-generation low dose triple antihypertensive, Amosartan-L in 2H25. The company expects Amosartan-L to replicate the success of dual combo, Rosuzet.
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