'Pharmaresearch' Experiencing Sales Performance Growth

[Asia Economy Reporter Hyunseok Yoo] An analysis has emerged that Pharmaresearch's performance is experiencing high growth.

On the 16th, according to FnGuide, researcher Tae-gi Ha of Sangsangin Securities recently stated in a report, "Pharmaresearch is expected to achieve high growth this year with PDRN and PN-based pharmaceuticals 'Conjuran' and 'Rejuran'."

He said, "Despite the toxin issues, there will be no impact on operating performance," and evaluated that "the growth vision remains valid due to the growth of existing products as well as new products and new businesses."

In particular, he expected continuous growth in the filler sector. He said, "With the launch of Rejuran HB PLUS, growth in the filler sector is expected to continue," adding, "It is a product with improved pain relief by adding HA and the local anesthetic lidocaine to the main ingredient PN." He continued, "Not only a solid domestic market but also exports to China, Singapore, and Malaysia are ongoing, making gradual sales growth possible."

Along with this, he also evaluated that the growth of the existing product, the arthritis treatment Conjuran, is continuing. He said, "The demographic change of aging is unavoidable, and there is currently no complete cure for RA (Rheumatoid Arthritis)," adding, "Since the inclusion in insurance coverage in 2020, increased price competitiveness and market share acquisition through cooperative sales with SK Chemicals are also underway."

Furthermore, he anticipated entry into the medical device business. Pharmaresearch acquired the medical aesthetic device company Medicocson last November. He said, "Medicocson produces the home care beauty device Duolip, which combines HIFU and radiofrequency technology, and the patch-type radiofrequency stimulator Exion," emphasizing, "Pharmaresearch is expected to develop new medical devices (thermal therapy devices, low-frequency therapy devices, lifting devices, etc.) and create business synergy by utilizing the existing sales network." He added, "Since sales are still in the early stages, it should be viewed from a long-term perspective."