Diagnostic corporations Seegene said on May 8 that it posted first-quarter revenue of 129.1 billion won and operating profit of 23.6 billion won this year. Both rose 11% and 59%, respectively, from a year earlier.
Non-respiratory syndromic products led growth. Syndromic refers to diagnosing multiple pathogens simultaneously with a single sample. The company also said its human papillomavirus (HPV) products won major bids.
By region, Europe accounted for 65% of total revenue. It was followed by Asia (14%), the Americas (13%), and Korea (7%). The company is pushing to expand in global markets.
Kim Jeong-yong, Seegene chief financial officer, said, "We improved profitability through cost structure improvements and expense efficiency," adding, "We will strengthen our mid- to long-term growth base with a diagnostic strategy that combines data and automation."