BioPlus Reports Operating Profit of 18.3 Billion KRW in 2021... "Achieving the Largest Performance Since Establishment"

[Asia Economy Reporter Jang Hyowon] BioPlus (CEO Jeong Hyunkyoo) has achieved record-breaking performance, accomplishing both external growth and profitability enhancement.

On the 16th, BioPlus announced through a ‘Disclosure of Sales or Profit Structure Change of 30% or More’ that it achieved sales of 37.4 billion KRW and operating profit of 18.3 billion KRW based on consolidated financial statements for 2021. Compared to the previous year, sales increased by 54% and operating profit by 49%, maintaining a solid high-growth trend in 2021 as well.

A company official stated that by applying the patented ‘MDM Tech,’ a self-developed biomaterial application platform technology, they maximized product safety and quality (viscoelasticity, durability, molding ability, biocompatibility, biodegradability, etc.). They explained that these product strengths and differentiated marketing strategies led to the highest performance since the company’s founding, and that preclinical trials of biomimetic breast and biomimetic cartilage products incorporating ‘MDM Tech’ are progressing smoothly.

Jeong Hyunkyoo, CEO of BioPlus, said, “We are solidifying growth momentum through continued high growth in the core biomaterial application product sector, clinical progress of biomimetic breast and biomimetic cartilage substitutes, the China Hainan project, improved toxin/obesity and diabetes treatments, antiviral therapeutics, and other new business initiatives.” He added, “Achieving record-breaking performance last year has further strengthened confidence in BioPlus’s growth potential, and we will do our best to enhance corporate value.”