Sales of 49.8 Billion KRW and Operating Profit of 10.4 Billion KRW
13% and 134% Growth Compared to the Same Period Last Year
[Asia Economy Reporter Lee Gwanju] Medytox announced on the 12th that its consolidated sales for the second quarter of this year reached 49.8 billion KRW, a 13% increase compared to the same period last year. Operating profit for the same period was 10.4 billion KRW, and net profit was 19.3 billion KRW, growing by 134% and 333%, respectively.
Medytox explained that the strong performance was driven by a significant increase of about 40% in sales of its core business, toxin formulations, compared to the first quarter. Medytox has entered a mass production system for its key product this year, and since June, it has actively entered the market with 'Coretox.' Along with the existing main product 'Medytoxine,' Coretox is expected to lead Medytox's growth in the second half of the year.
The hyaluronic acid (HA) filler 'Neuramis' is also steadily growing. With stable sales increases not only domestically but also in overseas markets, it is on the verge of surpassing 20 billion KRW in quarterly sales.
Ju Heeseok, Vice President of Medytox, said, “It is very encouraging that sales of the toxin formulations, our main area in the first half of the year, have recovered, achieving a high operating profit margin.” He added, “In the second half, we will rapidly advance into the previously stagnant advanced markets and create visible results in new business areas to demonstrate Medytox's resilience.” He continued, “The analysis of Phase 3 clinical trial data in the U.S. for the new formulation toxin product 'MT10109L' under development for the U.S. and European markets, as well as the domestic approval process for 'Neulux' being conducted by Medytox Korea, are also progressing according to schedule.”
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