SD Biosensor Surpasses 2 Trillion Won in H1 Sales... 'Annual Sales of 3 Trillion Won' in Sight

[Asia Economy Reporter Lee Gwan-joo] SD Biosensor announced on the 3rd that it achieved consolidated sales of 2.18 trillion KRW and operating profit of 967.7 billion KRW in the first half of this year.

The preliminary operating results for the second quarter recorded sales of 795 billion KRW and operating profit of 348.1 billion KRW. The company explained that despite the continued spread of Omicron subvariants, it achieved high business performance, including signing two large-scale supply contracts in Taiwan.

SD Biosensor completed a total of three mergers and acquisitions (M&A) in the first half of the year, starting with the acquisition of shares in Germany's Bestbion at the beginning of the year. In particular, the Nasdaq-listed Meridian Bioscience, which was decided to be acquired in July, is expected to bring synergies such as ▲full-scale entry into the U.S. market ▲diversification of diagnostic portfolio ▲acceleration of FDA approval ▲production facilities and distribution networks.

SD Biosensor has announced additional M&A with distribution and manufacturing companies. Significant sales are also expected through seven new M10 cartridges launched in the second quarter, which have completed CE certification. The continuous glucose monitor is also planned to be launched in 2024, featuring a smaller size and longer sensor lifespan compared to competitors.

Due to the strong performance in the first half, SD Biosensor's annual sales surpassing the 3 trillion KRW mark has become more visible. Last year, SD Biosensor was the first domestic pharmaceutical bio company to exceed 2 trillion KRW and recorded sales approaching 3 trillion KRW (2.93 trillion KRW).