Medytox, a local biopharmaceutical company, is growing rapidly with major performance figures showing steep increases, according to stock market sources.
According to a provisional public notice Thursday, Medytox’s turnover hit a record-high level last year. The company’s accumulated sales totaled 133.2 trillion won ($101.6 million) on a consolidated basis, an increase of 50.6 percent from 2015. Its operating profits and net profits also jumped 45.5 percent and 40 percent, respectively, to 75.1 billion won and 59.2 billion won over the cited period.
Sales in the fourth quarter, in particular, soared 61 percent from a year ago to 40 billion won with operating profits and net profits also registering growth rates of 58 percent and 31 percent to reach 22.1 billion won and 15.1 billion won, respectively, company officials said.
Innotox Inj, Meditoxin Inj, and Neuramis lead to the growth in sales, Medytox says.
The company attributes its brisk performances to three products – Innotox Inj, a botulinum toxin medication, Meditoxin Inj, and Neuramis, a hyaluronic acid medicine – which have combined to lead the booming sales, they said.
“We are exporting botulinum toxin drugs to 60 countries, including Japan, Thailand, and Brazil, and sales are particularly strong in the two Asian countries,” said a company official. “As we sell them along with fillers, the two products have produced synergic effects.”
CEO Chung Hyun-ho agreed. “The synergy of botulinum toxin medicine and fillers pushed up sales by 51 percent last year, the highest figure since the company’s establishment,” Chung said. “Their brisk overseas shipments also resulted in the steep sales growth of 61 percent in the fourth quarter.”
Earlier the year, Medytox vowed to join the ranks of top-20 biopharmaceutical firms in the world by 2022 by focusing on research and development this year.
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