Medipron Reports Operating Profit of 700 Million KRW in H1... "Concerns Over Management Status Resolved"

[Asia Economy Reporter Hyunseok Yoo] Mediphrondivity, a biopharmaceutical company specializing in new drug development, announced on the 17th through its earnings disclosure that it recorded sales of 22.9 billion KRW, an operating profit of 660 million KRW, and a net profit of 1 billion KRW for the first half of the year.

The sales figure represents a 44.9% increase compared to the same period last year, continuing the strong growth trend from the previous year. Operating profit turned significantly positive at 660 million KRW, reversing from an 800 million KRW loss in the same period last year. Net profit reached 1 billion KRW, indicating an escape from a chronic deficit structure.

The company explained that this record performance was achieved due to steady sales growth in the IT distribution business, continuing from the previous year, and profit contributions from the HMR division, well known for the “Nostalgic Elementary School Tteokbokki.”

A Mediphron representative stated, “Based on these results, we are preparing for the successful Phase 1 clinical trial of MDR-652, a topical analgesic, and are continuing active R&D investments including joint research with major universities and recruitment of research personnel,” adding, “In 2021, we expect not only the highest operational performance but also meaningful achievements in new drug development.”