Green Cross, a major Korean drugmaker is expected to show good performance in its fourth quarter sales.
Good Morning Shinhan Securities expected on 30 July that Green Cross' sales and operating profit would exceed 200.0 billion won and 40.0 billion won in the fourth quarter of 2009, respectively, due to its active supply of new flu vaccine.
Good Morning Shinhan Securities announced the goal of Green Cross' stock price was 15 thousand won, and recommanded the stock for 'Buy'.
Bae Ki-dal, a Good Morning Shinhan Securities' analysist, said that Green Cross' third quarter sales would record 163.3 billion won, up 16.7% compared with the same period of 2008(140.7 billion won).
He also estimated that its third quarter operating profit would be 24.3 billion won, up 20.1% compared with the same period of 2008(20.3 billion won).
As of now, only Dong-A Pharmaceutical's quarterly sales exceeded 200 billion won(203.9 billion won in the second quarter of 2009) among the domestic drugmakers.<헬스코리아뉴스>