Hugel is a solid turnaround story. The recent resumption of its Botulax product sales in China is likely to boost the company's sales and profits in 2023 and 2024.
Despite this important catalyst, Hugel continues to face potential legal battle with Medytox over the botulinum toxin-related patent in the United States.
The overall valuation on Hugel remains attractive and it is trading at EV/EBITDA of 7.1x and P/E of 18.2x in 2023.