Amicogen, a bio-materials and healthcare specialized company (CEO Pyo Jjeo), announced that its consolidated sales for the second quarter of this year reached 42.7 billion KRW, an increase of 7.84% compared to the same period last year. Due to expenses incurred from entering new businesses, operating profit recorded a loss of 1.9 billion KRW, and net profit showed a loss of 8.8 billion KRW due to financial costs and losses from investments in affiliates.
Amicogen China’s second-quarter sales amounted to 30.7 billion KRW, a 0.7% increase year-on-year, despite sluggish sales of some finished pharmaceuticals and enzymes due to the off-season. This growth was driven by the full-scale launch of the respiratory disease antibiotic Tylvalosin. Amicogen headquarters’ second-quarter sales reached 11.3 billion KRW, a 16.5% increase year-on-year, thanks to increased ODM orders for grain enzymes, growth in healthcare material sales, and the launch of Bifimax applying microbiome technology from affiliate Bifido. Additionally, sales growth in the enzyme biopharmaceutical division was supported by the release of enzymes for bio-processing, steady receipt of DX technology fees, sales of ligand proteins, and increased sales of enzymes for cephalosporin antibiotics.
Amicogen’s consolidated sales for the first half of the year recorded 76.9 billion KRW, a 1.18% decrease compared to the same period last year, with operating profit turning to a loss due to expenses from new business entries such as media and resin.
An Amicogen official stated, “Although the growth trend of the headquarters and Amicogen China businesses continues, operating profit recorded a loss due to expenses from new business entries in media and resin,” adding, “This year, we plan to maximize cost efficiency through innovation in work processes to improve profitability.”
He continued, “This year will be a foundation-building year for the full-scale results of media and resin,” and said, “In the second half, we expect to see sales growth and improvements in the profit structure.”
Amicogen CEO Park Cheol said, “The growth of our core businesses, enzyme biopharmaceuticals and healthcare divisions, continues,” and explained, “The enzyme biopharmaceutical division shows remarkable growth in new pipelines such as special enzymes, Green API (enzymes for cephalosporin antibiotic synthesis, etc.), Green NAG, ligand proteins, and enzymes for bio-processing. The healthcare sector also continues to grow through expanded ODM orders and material sales due to increased clients and overseas market entry.”
He added, “Amicogen China is expected to continue strong growth from the second half as the new Tylvalosin factory begins full operation, and with the recovery of the Chinese economy and entry into the peak season. The expansion of pharmaceutical bio-material pipelines such as special enzymes, new DX strains, AAV ligands, enzymes for cephalosporin antibiotics, and enzymes for bio-processing, along with strengthened competitiveness in healthcare materials and expanded clients and exports, will sustain the growth of our core businesses.”
Furthermore, he said, “For antibody purification resin, quality testing for supply to customers is actively underway, and joint process development and co-development are in progress for customized resin development. The animal cell culture media sector is also continuously cooperating with customers for OEM supply.”
He concluded, “From the second half of this year, visible sales are expected in the resin and media sectors,” and added, “We will do our best to ensure that the company’s value is re-evaluated through the full-scale achievements of new businesses.”
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