[Asia Economy Reporter Jang Hyowon] Seegene, a molecular diagnostics specialist company (CEO Chun Jong-yoon), announced on the 26th that it achieved consolidated sales of 122 billion KRW, operating profit of 22.4 billion KRW, and net profit of 26.7 billion KRW last year. Compared to the previous year, sales increased by 19.3%, operating profit by 111.0%, and net profit by 149.4%.
Seegene recorded sales of 33.8 billion KRW and operating profit of 5.1 billion KRW in the fourth quarter. In particular, sales reached a quarterly record high, continuing the pattern of achieving the highest sales of the year every fourth quarter.
Seegene’s growth trend is expected to continue for the time being. As the molecular diagnostics market steadily expands with a growth rate approaching 10%, the company is experiencing an increase in the number of product bids and continuous growth in successful cases. The increasing popularization of molecular diagnostic testing for infectious diseases is also a positive factor, providing more growth opportunities.
A Seegene representative stated, “Last year, the number of testing institutions using AllplexTM customers increased by 423, expanding faster than before. The steady shipment of Seegene-exclusive equipment and the favorable leading indicators of diagnostic reagent sales give us greater confidence in growth than ever before.” He added, “In 2020, we expect growth beyond last year as our flagship product, Allplex, enters a full-scale expansion phase.”
Meanwhile, Seegene’s recently launched COVID-19 diagnostic reagent (AllplexTM 2019-nCoV Assay) is being smoothly supplied to numerous domestic and international testing institutions. However, the company does not consider this a factor for performance improvement and states that it is fulfilling its corporate social responsibility by supplying diagnostic reagents at lower prices to help the current situation subside quickly.
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