Pharmicell Achieves Record Quarterly Sales... "Continued Supply of mRNA Pharmaceutical Raw Materials"

[Asia Economy Reporter Hyungsoo Park] Pharmicell announced on the 11th that its sales in the first quarter of this year reached 12.1 billion KRW, marking the highest quarterly performance in its history. This is an increase of more than 28% compared to 9.5 billion KRW in the same period last year. Operating profit recorded 1.4 billion KRW, an 86% increase compared to the same period last year.

The Chemical Business Division led the performance growth with sales of 11.8 billion KRW. The demand is increasing as raw pharmaceutical ingredients such as nucleosides and mPEG from the Chemical Business Division are used in the manufacturing of COVID-19 mRNA vaccines. Supply requests from domestic and international global pharmaceutical companies continue.

By product, nucleosides recorded sales of 4.8 billion KRW, a 53% increase compared to the same period last year. This is the result of new orders for vaccine purification following the supply of raw materials for COVID-19 diagnostics and mRNA pharmaceuticals. mPEG achieved sales of 1.5 billion KRW, growing 486% compared to the same period last year. Currently commercialized mRNA vaccines utilize lipid nanoparticle (Lipids) technology that requires mPEG (2K), which is accelerating the sales growth.

A company official explained, "The expansion of the raw pharmaceutical ingredient factory is scheduled to be completed in the second half of the year," and added, "The Chemical Business Division will continue to grow."

He also said, "The Bio Business Division is rapidly advancing commercialization clinical trials for cirrhosis treatment (Cellgram-LC, Phase 3), erectile dysfunction treatment (Cellgram-ED, Phase 2), and ovarian and prostate cancer anti-cancer immune cell therapy vaccines (Cellgram-DC, Cellgram-DC-PC, Phase 1)."