Celltrion, will be full-fledged sales contribution increased RAM Shima - Hanwha

Revenue contribution from [South Korea nine hyerin financial newspaper reporter] this year, Ram Hanwha Securities is a full-fledged island for 20 days Celltrion increased and was expected to be rapidly improved margin. This recommendation is made BUY, TP maintains 14 million.

4 2016 Celltrion quarter sales beat the consensus by 24.1% YoY increase of 208.8 billion won. However, operating profit fell short of the market consensus 75.2 billion won to 71.6 billion won increased by 12.2% YoY.

The Jun Gi Institute of brokerage is' This biopharmaceutical research is likely due increased clinical costs of development progress, etc., said, "2017 sales compared to R & D ratio is expected to maintain the 2016 first half level of 40% of turnover margin improvement due to the increase is expected to occur right from the first quarter, he said.

Pfizer has announced that this year sales of the Ram Island 103% increase compared to $ 61,000,000 last year. New Researchers' The sales of the United States started selling in December, is expected have successfully entered the market with a $ 4 million of 'said' sales also year-on-year 88% increase in northwestern Europe and quickly the original product Remicade which is expected to replace 'he said.

Also, he added, sales growth in the fourth quarter of last year is also estimated that reflects the initial production volume compared to the US market, selling in earnest, in 2017 the US market sales of the Ram Island is expected to grow faster than expected.



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