Spinal implant specialist L&K Biomed announced on May 16 that it recorded consolidated sales of 8.9 billion KRW and an operating loss of 140 million KRW in the first quarter of this year.
The company reported an operating loss due to increased marketing expenses associated with the launch of new products, as well as workforce expansion to support business growth. However, it expects performance to recover from the second quarter onward, citing the launch of new products and the addition of new business bases.
L&K Biomed has already received FDA approval for its pectus excavatum implant "Pectus" this year and is preparing for full-scale supply in the United States, the world's largest medical device market. To expand the global supply chain for "Pectus," the company is simultaneously targeting not only the United States but also countries such as China, Japan, Thailand, and Vietnam.
The company has completed ANVISA regulatory approval applications and on-site inspections in Brazil for five types of expandable height cages and aims to secure approval within this year. Following approval from Brazil's ANVISA, L&K Biomed plans to sequentially apply for product approvals in Mexico, Chile, and other countries, thereby expanding its export network throughout Latin America. The company also plans to increase export volume through more active global initiatives in regions such as Europe, Taiwan, and Hong Kong.
A representative from L&K Biomed stated, "Our goal for the first half of the year is to lay the foundation for sales growth by maintaining sales and profitability while carrying out various marketing activities for business expansion and new product launches."
The representative added, "We plan to shift to a growth trajectory in the second half of the year with the full-scale supply of the pectus excavatum implant 'Pectus.' We also aim to make 2025 the inaugural year of global diversification, securing a foundation for long-term growth through strategic investments."
The representative emphasized, "By completing regulatory approvals for our flagship product, the expandable height cage, and our future growth driver, 'Pectus,' in various countries outside the United States such as Brazil and Japan, we expect to achieve visible performance improvement in the second half of the year. We will solidify our position in overseas markets and drive continuous growth."
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