BlackRock, the world’s largest asset manager, has increased its equity stake in Yuhan for the second consecutive month.
According to the industry, BlackRock Fund Advisors, which manages BlackRock’s funds, and its special affiliates bought 745,717 shares of Yuhan on the market through the 31st of last month.
As a result, BlackRock’s Yuhan holdings increased from 4,039,408 shares to 4,785,125 shares. Its equity stake also rose 1.43 percentage points, from 5.07% to 6.50%.
This follows a move in June to raise its stake from 4.36% to 5.07%, expanding its investment weight for the second consecutive month.
Yuhan is expected to see improved profitability as global sales of the lung cancer drug Leclaza (ingredient name Lazertinib) expand. As Leclaza’s global sales increase, revenue from milestone payments and royalties tied to sales is also projected to grow.
The analysis is that global investors highly rate the technological competitiveness and potential for global business expansion of Korea’s bio corporations.
To learn more, please click here:
BlackRock boosts stakes in Korea biotech, betting on long-term growth – CHOSUNBIZ