GL PharmTech Reports 55% Increase in Sales Compared to Previous Year

260 Billion KRW in Revenue on a Consolidated Basis... Increase in Sales of Aeknon Cream
Efforts to Improve Profit Structure

GL PharmTech, a KOSDAQ-listed company, announced on the 1st that its consolidated sales last year reached 26.06 billion KRW, marking an approximately 55% increase compared to the previous year.

GL PharmTech recorded its highest sales from a single product by supplying 2.25 million units of Aknon Cream, which is sold by Dong-A Pharmaceutical. The company explained that sales increased as it raised the proportion of its own sales activities.

Operating loss slightly decreased to 3.133 billion KRW compared to the previous year. A company representative stated, "Although we expected an improvement in the profit and loss structure along with increased sales, operating profit fell short of expectations due to low insurance drug prices for existing products and increased raw material costs for some items." They added, "It is regrettable that the overall profit and loss structure did not improve because the signing of technology transfer contracts for completed R&D projects was delayed."

GL PharmTech plans to focus on both external growth and profitability improvement this year. The company expects sales of Aknon Cream, which recorded the highest sales last year, to grow by more than 50% this year as well. It will strengthen sales activities for product lines researched and developed by GL PharmTech and manufactured by GL Pharma, including diabetes treatments, menopausal women treatments, emergency contraceptives, and morning sickness treatments.