GL PharmTech Reports Record Q3 Sales of 18.6 Billion KRW, "Continued Growth"

GL Pharm Tech announced on the 10th that it achieved its highest quarterly sales, recording 18.6 billion KRW in consolidated sales and 11.5 billion KRW in standalone sales for the third quarter of this year.

GL Pharm Tech operates its business not only through pharmaceutical research and development but also through sales activities and sales partnerships with domestic pharmaceutical companies. Additionally, it continues to grow sales through product lineup expansion via technology transfer to its subsidiary GL Pharma, which owns production lines, and through its strategy to expand the CMO (Contract Manufacturing Organization) business.

Sales of Aknon Cream, which is under a sales partnership with Dong-A Pharmaceutical, have more than doubled compared to the previous year, reaching the maximum supply quantity since its launch. The company explained that sales have expanded since October last year by establishing a sales organization and conducting product and merchandise sales activities.

Furthermore, GL Pharma, a subsidiary, is steadily strengthening its sales base by continuously producing and supplying hormone products including contraceptives, which are female healthcare products, as well as morning sickness treatments. The diabetes treatment combination drug supplied through CMO achieved approximately 2.7 billion KRW in sales from a single product category in this quarter alone.

Operating loss for the third quarter was 2.5 billion KRW, so the company did not turn a profit. However, the deficit narrowed by nearly 21% compared to the operating loss of 3.2 billion KRW in the previous quarter.

A GL Pharm Tech representative stated, “With the launch of new products currently under development, such as the ‘Aspirin + Rabeprazole combination drug,’ and the expansion of sales activities for key sales items, we aim to achieve sales growth and improve operating profit next year.”