"Significant Growth in Overseas Sales of Core Products Expected This Year"
On the 13th, Medytox announced through its earnings disclosure that it achieved sales of 228.6 billion KRW, operating profit of 20 billion KRW, and net profit of 15.8 billion KRW last year (consolidated basis). Sales, operating profit, and net profit increased by 3.4%, 15.6%, and 63.5% respectively compared to the previous year.
Thanks to the strong performance of its main business segment, hyaluronic acid fillers, and the growth of Neuroderma Cosmetic Neuraderm, Medytox set a record high sales for the second consecutive year, and operating profit improved due to a decrease in commission fees.
Specifically, the filler segment recorded stable sales growth, with domestic and overseas markets growing by 17% and 5% respectively compared to the same period last year. The toxin segment saw a 9% decrease overseas and a 4% decrease domestically due to reduced operating rates at Plant 1 in Q3 and delays in GMP (Good Manufacturing Practice) re-certification in some export countries in Q4. However, since Plant 3 began full-scale production of export volumes in the second half of last year, the export dependency on Plant 1 is expected to gradually improve from this year.
This year, affiliate Numeco added Building E of Osong Plant 3 as a manufacturing site, establishing a mass production system. This plant will further support the global expansion of the next-generation toxin product 'Newlux.' Having obtained approvals in Peru and Thailand last year, Newlux, which made its first step into the global market, is preparing to become a global brand aiming to secure approvals in about 20 countries this year.
Additionally, 'Coretox,' which has grown into Medytox's flagship product, also added Building E of Plant 3 as a manufacturing site last month, and market share expansion through mass supply is expected. Along with the steady sales growth of hyaluronic acid fillers 'Neuramis' and 'Attier,' and 'Neuraderm,' which has emerged as a new growth engine by entering offline stores such as Chicor following its home shopping sell-out momentum, Medytox has set a goal to break its record-high performance again this year.
A Medytox representative said, "This year marks an important milestone for Medytox to leap forward as a global company with the full-scale overseas expansion of Newlux and the FDA approval application for the next-generation non-animal liquid toxin product 'MT10109L' in the U.S. We have prepared these plans for a long time and will do our best to achieve results that exceed expectations."
They added, "To live up to the symbolism of being the first in Korea and the only one in the world, Medytox will continue to develop differentiated competitive pipelines such as the prefilled syringe (PFS) type 'PF30,' which will bring innovation to the toxin market, and the recombinant toxin product 'MT951.'"
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