DXNVX Reports Cumulative Q3 Sales of 21.7 Billion Won... Consecutive Quarterly Profits

[Asia Economy Reporter Jang Hyowon] DxVx, a biohealthcare company based on microbiome technology, surpassed 20 billion KRW in cumulative sales for the third quarter and continued its consecutive quarterly profit streak.

DxVx announced on the 15th that it recorded 21.7 billion KRW in cumulative sales, 1.5 billion KRW in operating profit, and 800 million KRW in net profit for the third quarter. Having already exceeded last year's annual sales in the first half, the company posted 8.6 billion KRW in sales in the third quarter alone, raising expectations for the highest performance in its history this year.

The existing core diagnostic business expanded its scope and improved profitability through restructuring, while the growth of the newly launched biohealthcare sector drove the record-breaking performance. In particular, steady expansion of exports of infant healthcare products developed by the microbiome research institute to China is reported to have led the strong results.

By the first half of next year, DxVx plans to simultaneously launch 20 proprietary brand products in Korea and China, starting with microbiome-based respiratory and immune products aimed at preventing and assisting treatment of various diseases, indicating continued growth in the biohealthcare sector.

Recently, DxVx has laid the foundation to transform into a microbiome R&D company and grow into a total healthcare company by ▲acquiring Korea Biopharm, a GMP-certified production facility with annual sales of 10 billion KRW ▲establishing a Chinese subsidiary to build hospital and distribution networks in China ▲recruiting Dr. Lee Suwon, who led microbiome R&D at Beijing Hanmi and CoriChina.

Park Sangtae, CEO of DxVx, stated, “We aim to leap forward as a biohealthcare company providing personalized total solutions through medical diagnostics based on profitability and business sustainability by organically integrating each business area. We plan to steadily acquire overseas tangible and intangible assets to enhance future shareholder value and lay the foundation for long-term growth, and also intend to expand investment in R&D and clinical trials for next-generation drug development and new technologies.”