Korea Stock Market Insights

Tag: SCD411

Samchundang Pharm. Receives Korean Approval for Eylea Biosimilar ‘Visenfree’: Investment Implications
Samchundang Pharmaceuticals Receives Approval for Eylea Biosimilar ‘Visenfree’ in Korea
Samchundang Pharm.’s Eylea biosimilar, Visenfree (SCD411), has finally received marketing authorization in Korea. What does this mean for the company’s future, and what strategies should investors consider? In this article, we’ll delve into the significance of Visenfree’s approval, analyze its impact on the company’s fundamentals, and explore potential investment strategies.
1. The Significance of Visenfree’s Approval

On September 22, 2025, Samchundang Pharmaceuticals announced that it had received approval from the Ministry of Food and Drug Safety (MFDS) in South Korea for its Eylea biosimilar, ‘Visenfree’ (SCD411), for the treatment of wet age-related macular degeneration (AMD). Both vial and pre-filled syringe (PFS) presentations were approved, enhancing patient convenience. This marks a significant milestone for the company’s entry into the domestic market and signals its readiness to compete in the rapidly growing AMD treatment landscape.

2. Analyzing the Impact on Fundamentals: Expecting Revenue Growth and Improved Profitability

This approval is expected to positively influence Samchundang Pharm.’s fundamentals.
- Revenue Growth and Market Share Expansion: The launch of Visenfree is projected to drive revenue growth and increase market share. The availability of the PFS presentation is expected to further enhance market competitiveness by improving patient convenience.
- Profitability Improvement: Sales of the high-value biosimilar are anticipated to contribute to improvements in operating and net profit margins.
- Validation of R&D Capabilities: The approval validates Samchundang Pharm.’s R&D capabilities and raises expectations for future pipeline development.
- Improved Cash Flow: Increased sales are expected to improve cash flow from operating activities, which can strengthen investments and financial stability.
3. Investment Strategies: Considering Growth Potential and Risk Factors

While this approval is likely to act as a positive catalyst for the stock price, investors should consider the following factors:
- Market Competition: The intensifying competition within the biosimilar market needs to be addressed strategically.
- Actual Sales Performance: It is crucial to monitor the actual sales figures and the pace of market penetration post-launch.
- Global Market Expansion: Closely observe the company’s progress in entering key international markets, such as the US and Europe.
FAQ

What is Visenfree?

Visenfree is a biosimilar of Eylea, developed by Samchundang Pharmaceuticals for the treatment of wet AMD.

What does this approval mean for Samchundang Pharmaceuticals?

It’s a crucial step for domestic market entry and is expected to contribute to increased sales and improved profitability.

What are the key factors to consider for investment?

Investors should consider the competitive landscape, actual sales performance, and the company’s progress in expanding to international markets.
09/22/2025
Samchundang Pharm’s Treasury Stock Disposal: Good or Bad? Key Analysis for Investors
Samchundang Pharm Decides to Dispose of Treasury Stock Worth 29.5 Billion Won! What’s the Investment Strategy?

Samchundang Pharm’s announcement of treasury stock disposal is drawing attention from investors. Is this decision good news or bad news? This article closely analyzes the background and impact of the treasury stock disposal and presents key points investors should consider.
1. What Happened?

Samchundang Pharm announced on August 27, 2025, that it will dispose of 150,000 treasury shares for 29.5 billion won. The purpose is to secure funds for issuing exchangeable bonds.

2. Why Dispose of Treasury Stock?

Samchundang Pharm is currently accelerating the development of its biosimilar for age-related macular degeneration (SCD411) and is preparing to enter global markets such as Japan, Canada, and Europe. The company needs to secure funds for this business expansion and continued R&D investment.

3. So, What’s the Impact on the Stock Price?
- Positive aspects: Securing funds can enhance financial flexibility and accelerate R&D investment and business expansion.
- Negative aspects: Concerns include the dilution effect on earnings per share (EPS) due to the increase in outstanding shares, the possibility of increased financial burden from issuing exchangeable bonds, and a negative impact on investor sentiment.
In addition, the current high interest rates and exchange rate volatility can negatively affect financing costs and the profitability of overseas businesses. Therefore, the financing strategy needs careful review.

4. What Should Investors Do?
- Keep an eye on the fund utilization plan and the progress of biosimilar development.
- Carefully review the terms of the exchangeable bond issuance (conversion price, maturity, interest rate, etc.) and assess potential risks.
- Analyze the possibility of fundamental improvement, such as whether the trend of slowing sales and deteriorating profitability can be reversed, and the company’s ability to respond to the macroeconomic environment.
Frequently Asked Questions

Is treasury stock disposal always bad news?

Not necessarily. If the funds raised can secure growth drivers, it can have a positive impact in the long run. However, the fund utilization plan and changes in financial soundness should be carefully reviewed.

What are exchangeable bonds?

Exchangeable bonds are bonds that grant the right to exchange them for the issuer’s stock after a certain period.

What is the development status of SCD411?

It is currently preparing to enter major markets such as Japan, Canada, and Europe, and has received approval from Health Canada. Expansion into the US and Latin America is also planned.
08/27/2025
Samchundang Pharm Issues ₩29.5B Convertible Bonds: Opportunity or Risk?
Samchundang Pharm’s ₩29.5 Billion Convertible Bond Issuance: Why You Should Read This

Biosimilar company Samchundang Pharm’s decision to issue ₩29.5 billion in convertible bonds is a significant event for investors. Does it signal a positive step towards securing R&D funding or a concerning increase in financial burden? This article provides a comprehensive analysis of the issuance, highlighting key points investors should consider to make informed decisions amidst the company’s growth potential and current financial risks.
1. What Happened? Samchundang Pharm Announces Convertible Bond Issuance

Samchundang Pharm will issue ₩29.5 billion in convertible bonds on September 19, 2025. The issuance will be conducted privately, with a conversion price set significantly higher than the current stock price at ₩196,946. Institutional investors, including Pureun Investment and Shinhan Investment Corp., are participating.

2. Why? Funding R&D and Strengthening Financial Structure

Samchundang Pharm is currently focused on R&D, including the development of its biosimilar for age-related macular degeneration (SCD411). While crucial for long-term growth, these investments have led to short-term profit decline. The convertible bond issuance is interpreted as a strategic move to secure funding for R&D and improve the company’s financial structure.

3. What’s the Impact? Analyzing the Positives and Negatives
- Positives: The secured funding will accelerate the development of SCD411. The participation of institutional investors signals market confidence in the company. If the stock price surges, bondholders stand to gain significantly due to the high conversion price.
- Negatives/Neutral Considerations: The bond issuance increases debt and incurs interest expenses. The high conversion price makes short-term stock price gains unlikely and could raise concerns about financial difficulties. It also presents a potential stock dilution risk if the share price rises significantly.
4. Investor Action Plan: Careful Monitoring is Key

Samchundang Pharm’s convertible bond issuance presents both opportunities and risks. Investors should focus on monitoring the company’s long-term growth potential, especially the development progress and clinical trial results of SCD411, rather than short-term stock fluctuations. The company’s efforts to improve profitability and manage its financial health will also be crucial factors to consider.
Frequently Asked Questions

What are convertible bonds?

Convertible bonds are bonds that can be converted into shares of the issuing company’s stock after a certain period.

How will this bond issuance affect Samchundang Pharm’s stock price?

The short-term impact is expected to be minimal, but the long-term impact will depend on the success of SCD411 development. The high conversion price presents a stock dilution risk.

What should investors pay attention to?

Investors should monitor the development progress of SCD411, clinical trial results, the company’s efforts to improve profitability, and changes in its financial health.
08/27/2025