In the first quarter, Huons Meditech saw an increase in sales from overseas filler exports, cosmetics, and active pharmaceutical ingredients (APIs). However, sales of some specialty pharmaceuticals, including arthritis treatments, as well as botulinum toxin products, declined, resulting in a slight decrease in total sales for the quarter. In terms of operating profit, increased exports of hyaluronic acid (HA) fillers and higher sales of APIs led to improved factory utilization rates and profitability, resulting in an increase in operating profit.
Huons Meditech aims to drive sales growth in the second quarter by expanding overseas filler export destinations, launching the new product 'Elravie Ritwo,' and strengthening its aesthetics lineup, as well as diversifying its specialty pharmaceutical portfolio to secure additional contract manufacturing (CMO) orders. The company also expects profitability to further improve due to diversification of distribution channels in its cosmetics business and increased overseas filler exports.
Huons Meditech's overseas business continues to show solid growth each quarter, with stable sales in China and a significant increase in exports to Brazil and other South American regions. Recently, the company obtained product approvals from the Thai Food and Drug Administration (TFDA) for three types of HA filler products. Going forward, Huons Meditech plans to expand into new markets, including Southeast Asia, Russia, the Middle East, and Central and South America.
Kang Minjong, CEO of Huons Meditech, stated, "We will strengthen our global market strategy for fillers and pioneer overseas markets for existing products such as cosmetics and arthritis injectables to drive sales growth. We will also continue joint research and development with external bio-venture companies and expand our pipeline to secure next-generation growth engines."
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