HLB PAHRMA announced on the 13th that its consolidated revenue for the first half of the year increased by 17.8% compared to the same period last year, reaching 81.565 billion won. This marks the company's highest revenue for any first half ever.
However, during the same period, operating profit decreased by 89.5% to 195 million won. The company explained that this was due to a temporary rise in the cost of sales.
An official from HLB PAHRMA noted, "The Hyanam factory temporarily suspended operations due to remodeling, resulting in no revenue from contract manufacturing organizations (CMO); however, other institutional sectors showed growth, allowing us to perform well amid the crisis."
According to the company, sales of prescription drugs increased by 13.9% compared to the first half of last year, and the institutional sector of consumer healthcare, which includes health functional foods, also succeeded in rebounding. The liquid albumin product 'Albumin Intensive Gold,' launched in February of this year, achieved monthly sales of 1 billion won.
Sales from the pharmaceutical distribution specialist company Shinwa Advance, which was integrated as a subsidiary in May, have started to be reflected. Shinwa Advance's annual revenue scale is 60 billion won.
The company forecasts that operating profit will recover in the second half of the year. Park Jae-hyung, CEO of HLB PAHRMA, stated, "Despite a temporary increase in the cost of sales due to inventory adjustments in the first half, we were able to maintain a profitable trend due to strong growth in our main institutional sectors, and we will continue to promote solid growth through strengthened inventory and process management, expansion of high-margin products, reduction of commission rates, and enhanced marketing in the consumer healthcare sector."