Pamicell Reports Operating Profit of 12.3 Billion KRW Last Year, Up 61% Year-on-Year

Increased Sales with Full Operation of Plant 2

[Asia Economy Reporter Hyungsoo Park] Pharmicell has achieved its highest performance ever by surpassing 10 billion KRW in operating profit for the first time since its establishment.

Pharmicell announced on the 6th that last year it recorded sales of 68.7 billion KRW and an operating profit of 12.3 billion KRW, increasing by 35% and 61% respectively compared to the previous year. Net profit reached 16.1 billion KRW, up 70%.

Sales of the biochemical division, which produces nucleosides and others, increased by 35% to 67.2 billion KRW compared to the previous year. Sales of nucleosides recorded 30 billion KRW, a 72% increase from the previous year. As interest in RNA therapeutics grows, demand for marketable products has increased. Production volume also rose with the full-scale operation of the second plant.

Sales of the biomedical division amounted to 1.5 billion KRW. Sales of Hearticellgram-AMI accounted for 48% of this.

A Pharmicell official said, "Sales are increasing mainly in the biochemical division," adding, "Nucleosides account for 44% of total sales and serve as a cash cow."

He continued, "Although production at the first plant was halted due to a fire, the second plant is operating normally," explaining, "The impact of the fire on sales will be minimal." He also added, "We will strive to resume operations at the first plant as soon as possible."