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🇰🇷 South Korea /Economy & Trade

Shinhan Securities cuts Alteogen target price as expected Novartis subcutaneous conversions fall from three products to two

From Chosun Ilbo · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Context piece
  • Shinhan Securities expects the number of Novartis products converted to Alteogen’s subcutaneous formulation to fall from three to two.
  • The forecast changed after one Novartis drug candidate failed to meet its primary endpoints in a Phase 3 trial.
  • The brokerage maintained its buy rating but cut its target price from 540,000 won to 520,000 won.

Shinhan Securities lowered its target price for Alteogen after revising its expectations for the company’s technology-transfer agreement with Novartis.

The brokerage now expects two Novartis products, rather than three, to be converted to a subcutaneous formulation. One of the drug candidates secured by Novartis failed to meet its primary endpoints in a Phase 3 trial, prompting the change in outlook.

Shinhan Securities maintained its buy rating on Alteogen but reduced its target price from 540,000 won to 520,000 won.

About this summary

Originally published by Chosun Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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