[Asia Economy Reporter Jang Hyowon] Withus Pharmaceutical is showing a sharp rise on its first day of listing.
As of 9:49 AM on the 3rd, Withus Pharmaceutical is trading at 39,650 KRW, up 24.69% (7,850 KRW) from the opening price. This is 148.4% higher compared to the public offering price of 15,900 KRW.
Founded in 2004, Withus Pharmaceutical has primarily engaged in the manufacturing of generic drugs. It has secured profitability through formulation technology specialized for geriatric diseases and has continued to grow by acquiring high value-added product technologies such as first generics and dedicated facilities for cephalosporin antibiotics.
Last year, Withus Pharmaceutical posted sales of 51.7 billion KRW, operating profit of 10.9 billion KRW, and net profit of 8.6 billion KRW. Its operating profit margin was 21.1%, which is significantly higher than the average of 7-10% for listed pharmaceutical companies.
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