PharmaResearch entered the top 5 in terms of market capitalization on the Kosdaq market for the first time on the afternoon of the 10th. The company's product known as the 'Rejuran Healer,' often referred to as salmon injection in the beauty medical market, is what this company offers.
According to the Korea Exchange, PharmaResearch's market capitalization reached 5.486 trillion won as of 1:40 p.m. that day, an increase of about 210 billion won from the previous day's closing price. On that day, the company's stock traded at 525,000 won per share, setting a new all-time high.
At the same time, the top market capitalization in the Kosdaq was Alteogen (20.7711 trillion won). Following that were ECOPRO BM (9.173 trillion won), HLB (6.8867 trillion won), and Ecopro (5.9606 trillion won).
However, after the regular transaction closing at 3:30 p.m., the market capitalization of Rainbow Robotics, an industrial robot corporation, increased to 5.4708 trillion won, while PharmaResearch's market capitalization dropped by about 20 billion won to 5.465 trillion won, giving up the 5th position in market capitalization to Rainbow Robotics.
PharmaResearch's market capitalization surpassed 1 trillion won in February 2023, 2 trillion won in 2024, and 3 trillion won in February this year. It then exceeded 4 trillion won in May and surpassed 5 trillion won by the 5th.
The company is gaining attention in the market due to its rapid performance growth. The company's operating profit last year was 126.1 billion won, an increase of 36.6% from the previous year. In the first quarter of this year, the sales amount increased by 57% year-on-year to reach 116.9 billion won, while operating profit rose 68% year-on-year to record 44.7 billion won, marking the highest record for 10 consecutive quarters.
In particular, foreign tourists visiting Korea are going to skin clinics to receive Rejuran Healer injections and spreading the word through social media (SNS), resulting in increased demand for exports and cosmetics. Indeed, the sales growth in the overseas market for each item was particularly pronounced in the first quarter of this year. The overseas sales of medical devices and cosmetics increased by 106% and 82%, respectively, compared to the same period last year.
Rejuran Healer is an injectable prepared with components extracted from salmon testes. The company stated that this ingredient has anti-inflammatory effects and promotes the secretion of various growth factors, enhancing tissue regeneration. Classified as a medical device, Rejuran Healer has been approved in more than 20 countries, including Korea, Australia, Europe, China, Japan, and Southeast Asia.
Park Sun-young, a research analyst at Mirae Asset Securities, noted that "while several products have been released for wrinkle improvement using botulinum toxin, driving prices down significantly, Rejuran continues to maintain its price without competition" and added, "With a steady influx of foreign medical tourists, it continues to lay golden eggs in the domestic market." The company has also developed and launched joint injections, eye drops, and cosmetics using the same ingredient.
PharmaResearch announced that it plans to focus on expanding its overseas market using the 200 billion won raised from the European global private equity firm CVC Capital in October last year. The investment banking industry speculates that PharmaResearch may use this funding to carry out mergers and acquisitions (M&A) with domestic and foreign corporations.
In March, the company appointed Son Ji-hoon, the former CEO of Hugel, as the sole representative. CEO Son began his career at the headquarters of Bristol-Myers Squibb (BMS), later serving as the Executive Director of Global Business at Dong-A Pharmaceutical, and as the CEO of Baxter Korea and Dongwha Pharm.
In his inaugural speech, CEO Son stated, "It is time for PharmaResearch to leap into a global company, beyond being No. 1 in the domestic market, based on its unique technological prowess and market competitiveness" and emphasized that "to achieve this, we will strengthen our global competitiveness and focus on expanding into global markets and business areas."