PharmaResearch said on Feb. 4 that operating profit under consolidation last year came to 214.2 billion won, up 70% from a year earlier. Revenue for the same period rose 53% to 535.7 billion won.
The company said it built a stable growth structure as all institutional sectors continued even growth from a year earlier. In particular, growth in medical devices and cosmetics drove results, and the company said it was the combined effect of an increase in domestic demand from the inflow of foreign tourists and an increase in exports centered on medical devices and cosmetics.
Medical device revenue grew 62% from a year earlier, and the cosmetics institutional sector also increased 69%, led by major overseas markets such as the United States and Japan, driving overall performance growth.
PharmaResearch plans to further accelerate mid-to-long-term global expansion based on this growth. This year, the salmon extract-based skin regeneration injection "Rejuran" will ramp up business centered on the European market, while also pushing to expand in the Middle East and South America. In particular, starting with Chile, Peru, Argentina and Mexico, the company plans to make a full-fledged entry into the Latin American market by securing approval in Brazil, the region's largest market.
The company will also expand its portfolio beyond pharmaceuticals, medical devices, cosmetics and health functional foods into anticancer therapeutics, and will continue to invest in research and development (R&D) to diversify its portfolio, including starting clinical trials for approval in the Japanese market.
A PharmaResearch official said, "It is meaningful that we maintained stable growth even before the European market's performance was fully reflected in our results," adding, "This year, we will accelerate entry into unapproved countries through facility investment to stabilize the global supply chain and by strengthening research and development, and we will cement our leadership in the skin booster market."