bullish
Hugel Inc (145020 KS): Achieves Record High Revenue in 2Q23; Resubmits Marketing Application in US
427 Views04 Oct 2023 17:51
SUMMARY
- Hugel Inc (145020 KS) reported 28% YoY growth in both revenue and operating profit to KRW81.6B and KRW28B in 2Q23, respectively, driven by solid performance of botulinum toxins and fillers.
- Hugel has resubmitted marketing application for botulinum toxin in the U.S. for the third time, with approval expected in 1Q24. The U.S. is the world’s single largest botulinum toxin market.
- The company is seeing North America, Australia, New Zealand, and China as future growth engines to achieve its long-term target revenue of KRW1 trillion and operating profit margin of 45%.
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Tina Banerjee
Global Healthcare Analyst
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