On Monday, EuBiologics, a leading vaccine company, announced plans to simultaneously pursue a performance recovery in the second half of the year and develop premium vaccines, building on the stable profitability of its cholera vaccine.
According to EuBiologics, Yuho Securities recently projected that the company will achieve sales of 135 billion KRW (about 101 million USD) and an operating profit of 45 billion KRW (about 34 million USD) this year.
Despite a somewhat disappointing first half, with sales of 48.9 billion won (about 37 million USD) and an operating profit of 10.8 billion KRW (about 8.2 million USD), the company attributes this to timing differences in revenue recognition based on shipment schedules and a high comparison base from the previous year.
The company expects improved performance in the third and fourth quarters as it begins shipping its 51.6 billion KRW (about 39 million USD) cholera vaccine supply contract announced in the second quarter.
Last year, EuBiologics posted record-breaking results with sales of 149.2 billion KRW (about 112 million USD) and an operating profit of 60.7 billion KRW (about 46million USD). The company’s operating profit margin reached an impressive 40.7%, bolstered by the efficiency of its cholera vaccine, Euvichol-S.
EuBiologics is also accelerating its premium vaccine development. Through its 80% stake in U.S.-based U-Pop Life Sciences, the company is advancing clinical development and global commercialization of vaccines for shingles, Alzheimer’s, and RSV.
The company’s shingles vaccine, EuHZV, recently submitted an investigational new drug (IND) for Phase 2 clinical trials in South Korea. Phase 1 results showed no serious adverse reactions or events, and upcoming trials will compare its immunogenicity to GSK’s Shingrix.
Immunogenicity refers to a vaccine’s ability to provoke an immune response. Adjuvants are substances that enhance this response, thereby increasing vaccine efficacy.
The global shingles vaccine market is substantial, with GSK’s Shingrix generating approximately 6.3 trillion KRW (about 4.76 billion USD) in worldwide sales last year. EuBiologics aims to leverage its proprietary adjuvant EcML and antigen display technology SNAP to achieve competitive manufacturing costs for both domestic and international markets.
The company’s Alzheimer’s therapeutic vaccine, PadiVax, recently submitted an IND for Phase 1 clinical trials in South Korea. Unlike existing antibody therapies, PadiVax targets both amyloid beta and tau proteins and is designed to stimulate the body’s own antibody production.
A EuBiologics spokesperson stated that it plans to diversify the public vaccine portfolio, including typhoid vaccines, while advancing our shingles and Alzheimer’s vaccines through clinical trials. This strategy, supported by the stable cash flow from the cholera vaccine, aims to enhance the competitiveness and value as a global vaccine company.
