Pharmaresearch Leads with Rejuran, Achieving Strong Performance and Stock Growth

Operating profit of 30.8 billion KRW in Q2 this year... 30.13% increase compared to the same period last year
Stock price reached an intraday high of 168,700 KRW, setting a new record
Q2 Rejusang export-import data hits all-time high

Pharmaresearch, which achieved results exceeding market expectations in the second quarter of this year, has reached an all-time high. Profits are rapidly increasing as it begins to show significant performance overseas, led by the beauty medical device Rejuran.

According to the financial investment industry on the 8th, Pharmaresearch closed trading at 166,900 KRW the day before. The stock price has risen 52.4% since the beginning of the year, and the market capitalization has grown to 1.745 trillion KRW. During the previous day’s session, it rose to 168,700 KRW at one point, setting a new all-time high.

Pharmaresearch develops pharmaceuticals, medical devices, and cosmetics based on manufacturing technologies for polydeoxyribonucleotide (PDRN) and polynucleotide (PN), which are self-regenerating promoters. PDRN/PN are DNA fragments isolated from salmon germ cells. At the Gangneung GMP-certified factory, it produces PDRN pharmaceuticals such as 'Rejuvenex Injection,' as well as Rian eye drops, the medical device Rejuran effective for skin improvement, and Conjuran for intra-articular injections. It also sells cosmetics under the Rejuran brand.

Pharmaresearch recorded cumulative sales of 158 billion KRW and operating profit of 57.4 billion KRW in the first half of this year. These figures represent increases of 29.3% and 29.4%, respectively, compared to the same period last year. In the second quarter alone, it achieved sales of 83.3 billion KRW and operating profit of 30.8 billion KRW, surpassing the market expectation of 28 billion KRW in operating profit.

Jeong Heeryeong, a researcher at Shinhan Investment Corp., explained, "Global search trends including the US and Japan, as well as import-export data for the second quarter of this year, have reached record highs. Since last year, the company has been exporting Rejuran in earnest, continuing its growth."

Rejuran is a skin booster based on self-regenerating promoters. Skin boosters refer to injections that deliver effective ingredients to improve the skin beneath the surface. Compared to toxin and filler products, skin boosters are relatively less known. Since the launch of Rejuran in Korea in 2014, it gained significant recognition starting in 2019 through word of mouth as the 'Water Glow Injection' and 'Salmon Injection.' Based on its domestic success, Pharmaresearch began exporting Rejuran last year. The import-export data for Rejuran in the second quarter of this year recorded an all-time high of approximately 9.7 million USD.

Pharmaresearch also launched cosmetics leveraging Rejuran’s brand awareness. As awareness of Rejuran treatments increases, the cosmetics under the 'Rejuran' brand are also gaining popularity.

Ha Taegi, a researcher at Sangsangin Securities, said, "the Rejuran brand has achieved economies of scale and successfully established itself in the domestic cosmetics market," adding, "With exports steadily increasing, total cosmetics sales are expected to grow by around 30% this year."