[Market Focus] BlueMtech Surges 24% as Wegovy Craze Drives 500% Growth in Distribution Sales

BlueMtech is showing strong performance in early trading. The company's distribution platform is believed to be benefiting from the surging popularity of the obesity treatment drug Wegovy, which has in turn boosted investor sentiment.

As of 9:05 a.m. on May 8, BlueMtech was trading at 7,160 won, up 24.09% (1,390 won) from the previous day.

According to BlueMtech, its pharmaceutical e-commerce platform, BluePharmKorea, recorded approximately 6 billion won in Wegovy distribution sales in April alone, representing a 500% growth rate compared to the previous month. An analysis of sales showed that revenue from existing buyers increased by 33%, while the number of new buyers rose by 58% compared to the previous period. The company attributed this sales growth primarily to newly introduced services on BluePharmKorea, such as membership benefits and same-day delivery in the Seoul area.

Approximately 29,300 hospitals and clinics are registered with BluePharmKorea, accounting for 85.7% of all hospitals and clinics in Korea (about 35,000 locations). BlueMtech plans to further solidify its leading position in the Wegovy distribution market by implementing more aggressive marketing strategies and maintaining a stable supply chain in anticipation of increased demand for obesity treatments during the upcoming summer. CEO Kim Hyunsoo stated, "As we expect demand to rise during the summer, we will do our best to ensure a stable supply and provide innovative services."