Medytox said Tuesday that due to its strong sales in the second quarter, the company has set a record 113.8 billion won ($100.7 million) sales in the first half of this year.
The accumulative sales mark the first time that the company has surpassed a turnover above 100 billion won in the half-year period.
Medytox registered 55.5 billion won in sales in the second quarter of this year, a 16 percent increase from the same period in 2017. The company also recorded an operating profit of 22.6 billion won, up 14 percent from a year ago, and a net profit of 18.2 billion won.
“Based on the Medytox’s overwhelming domestic market share, overseas sales have steadily increased, which led to the company exceeding 100 billion won in sales for the first time in the first six months,” a company official said. “We expect continued robust revenue increase as the prospects are bright for growth in the domestic and global markets.”
Although operating profit temporarily declined due to one-off expenses such as R&D and advertisement, the company expects to remain profitable in the second half of this year, he added.
The company based its expectations on its plans to increase its global market share.
“We are planning to step up growth by expanding our global market share,” the official said. “We have received sales approval for Medytoxin, a botulinum toxin (BTX) type A product, in China. The U.S. phase 3 clinical trial for Innotox is also running smoothly.”
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