Added to YB: 2026-09-24
Pitch date: 2026-09-20
145020.KQ [bullish]
Hugel, Inc.
-12%
current return
Author Info
Asian Century Stocks is a former buy-side investor in Asia that now focuses on researching value stocks in Asia and sharing them in his newsletter. Sign up for the newsletter.
Company Info
Hugel, Inc. develops and manufactures biopharmaceuticals in South Korea and internationally. The company offers Botulinum Toxin, a white injectable dry powder in a transparent glass vial for use in the treatment of positive essential eyelid convulsion in adults over 18 years of age; improvement of severe lasso wrinkles associated with corrugator muscles and/or procerus muscle activities in adults aged between 18 and 65; treatment of upper limb stroke; and treatment of dynamic equinus foot deformity in children with cerebral palsy over 2 years of age, as well as improvement of external angles of secondary ideals related to orbicularis oculi muscle activity in adults aged between 19 and 65 under the Botulax, Regenox, Zentox, Reage, Magnion, Hugel Toxin, Juvenlife, Botulim, and Botoshot brands.
Market Cap
KRW 2.3T
Pitch Price
KRW 212.5K
Price Target
N/A
Dividend
N/A
EV/EBITDA
7.69
P/E
14.86
EV/Sales
3.68
Sector
Biotechnology
Category
growth
Deep-dive: Hugel (145020 KS)
145020.KQ (overview): Hugel is South Korea’s low-cost Botox leader, with over 40% domestic share and a US market more than 15 times larger now opening to Letybo. At ~10x run-rate EV/EBIT and 16x P/E, the thesis expects 20%+ top-line growth and a sub-10x P/E by 2029, assuming 12% treasury-share cancellation. Key risks are commoditization, intensifying competition and a potential private-equity share overhang.
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