[Asia Economy Reporter Hyungsoo Park] GemVax & Kael achieved cumulative sales of 60.9 billion KRW in the third quarter of this year. This is a 43.6% increase compared to the same period last year. GemVax expects to break its all-time highest sales record.
GemVax announced on the 15th that its sales in the third quarter of this year reached 19.9 billion KRW based on consolidated financial statements, a 54.2% increase compared to the same period last year.
Sales increased due to new factory investments by Samsung Electronics and SK Hynix. The increased demand for new filters resulting from strengthened contamination control in cleanrooms of display manufacturers also contributed to the rise in sales.
Overseas, sales growth continued due to increased sales from major clients. The company is steadily expanding its market share in overseas markets.
A GemVax representative said, "We have already surpassed last year's sales scale in the third quarter," adding, "We are strengthening our competitiveness in the domestic and international filter markets and will continue to increase sales going forward."
GemVax operates a filter manufacturing business necessary for equipment and a bio business developing new drugs such as Alzheimer's disease treatments. Recently, the global Phase 2 clinical trials for the Alzheimer's disease treatment have simultaneously progressed in the United States and Europe, entering full-scale operation. The benign prostatic hyperplasia treatment has completed all domestic Phase 3 clinical trials and is currently undergoing post-processing such as data handling.
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