GC Green Cross announced on the 31st that it recorded sales of 1.6266 trillion KRW and an operating profit of 34.43617 billion KRW in its business performance last year.
Compared to 2022, sales decreased by 4.9%, and operating profit dropped by 57.6%. The company explained that the profit decline was due to "changes in the internal and external environment and the transition to the COVID-19 endemic (periodic epidemic of infectious diseases)."
Specifically, in terms of sales, the company stated that "there was a decrease in domestic influenza vaccines due to reduced benefits from COVID-19 and sluggish exports of the Hunter syndrome treatment 'Hunterase' caused by geopolitical risks," but "this was partially offset by an increase in product sales such as the introduction of the shingles prevention vaccine 'Shingrix'." Regarding operating profit, it added, "There was an increase in cost ratio due to rising plasma prices for blood products and increased research and development (R&D) investment focused on rare disease treatments," and "there was a temporary decline in profitability due to sluggish sales of the high-margin Hunterase."
A Green Cross official said, "This year, there will be expansion of new businesses such as the entry of the blood product 'Aliglo' into the U.S. market in the second half, technology export of the blood product plant to Indonesia, and plans for commercial production of contract manufacturing organization (CMO)," and added, "We expect mid-single digit sales growth."
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