Spinal implant company L&K Biomed announced on the 15th that it recorded cumulative sales of 26.1 billion KRW and operating profit of 2.5 billion KRW through the third quarter of this year. This represents an increase of 14.4% and 14.3%, respectively, compared to the same period last year.
Based on consolidated financial statements, the company achieved sales of 9.7 billion KRW and operating profit of 1.3 billion KRW in the third quarter. Performance is improving compared to the previous quarter.
An L&K Biomed official stated, "This is due to the continued strong sales of PassLock-TM, an increase in new clients resulting from strengthened sales capabilities, and increased sales of new items."
Last month, L&K Biomed received FDA approval for six new products in the height-expandable cage ‘BlueX Series’. The company is currently awaiting FDA approval for the successful development of the pectus excavatum implant ‘CastleLock-Pectus’, which is being promoted as a new business. Approval applications for five height-expandable cages have been completed with Brazil’s ANBISA, paving the way for entry into the Latin American market.
By diversifying its product portfolio, the company is also strengthening product competitiveness and sales capabilities. It plans to solidify its position in overseas markets and drive continuous growth. It expects overall performance to improve through diversification of distribution channels.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
