[Click eStock] "BioPlus, Another Earnings Surprise This Year"

Continued Growth in Filler and Cosmetics Sales

BioPlus, a specialized company in medical devices and bio products, is expected to record an 'earnings surprise' this year, surpassing performance forecasts based on high-margin sales growth in fillers and cosmetics.

According to a corporate analysis report by Stunning Value Research on the 6th, “BioPlus experienced sluggish performance in the first quarter last year due to restructuring domestic and international filler sales, but following the fourth quarter, it is expected to continue the earnings surprise this year.” The company’s consolidated sales this year are projected to increase by 62.6% year-on-year to 108 billion KRW, with operating profit expected to rise by 99.1% to 46.4 billion KRW.

BioPlus recorded its highest-ever quarterly performance in the fourth quarter of last year, with consolidated sales of 29.09 billion KRW and operating profit of 13.45 billion KRW, exceeding estimates of 27 billion KRW and 10.1 billion KRW, respectively. The report pointed out that factors such as increased overseas exports of fillers to China and Brazil, and sales growth of the high-functional cosmetic ‘Bonix’ in the Greater China region, will continue this year.

The company’s entry into the obesity and diabetes treatment market this year is also viewed positively. BioPlus, which manufactures and sells hyaluronic acid fillers, medical devices, cosmetics, and pharmaceuticals, is accelerating research and development of the generic drug ‘Liraglutide’ and the bio-better (improved new drug) ‘Semaglutide’ this year. The company aims to capture more than 10% of the domestic market share in obesity and diabetes in the future.