Medytox Q2 earnings to beat expectations

[THE INVESTOR] Korean biopharmaceutical firm Medytox is likely to post stronger-than-expected earnings in the second quarter on robust growth of its hyaluronic acid dermal filler brand Neuramis, a local brokerage NH Investment & Securities said on July 19.

“Medytox’s Q2 sales and operating profit were estimated at 31.2 billion won (US$27.43 million) and 18.4 billion won, respectively, up 42.8 percent and 31.4 percent on-year,” said Lee Seung-ho, an analyst at the securities firm. 

NH Investment & Securities retained its buy rating for Medytox and a price target of 640,000 won. Medytox’s stock gained 0.29 percent to 421,100 won as of 2:25 p.m.

By Park Han-na (hnpark@heraldcorp.com)