PharmaResearch continued its revenue growth in the third quarter of this year, driven by increased exports of cosmetics and medical devices. Notably, cosmetics exports surged by 92% compared to the same period last year, propelling overseas business growth.
On November 6, PharmaResearch announced that its consolidated revenue for the third quarter reached 171.5 billion won, with an operating profit of 62.6 billion won. Revenue increased by 27% year-on-year, and the operating profit margin stood at 36.5%. Exports accounted for approximately 48% of total revenue in the third quarter.
The growth in the cosmetics sector was particularly pronounced. Cosmetics sales for the third quarter totaled 62 billion won, with exports reaching 42.1 billion won, marking a 92% increase from the previous year. Major Southeast Asian markets, including Malaysia and the Philippines, recorded growth rates in the 50% range compared to the previous quarter, while sales also expanded in Japan and China. In the United States, the company has broadened its distribution network through increased presence in Sephora and a launch at Costco.
Domestic cosmetics sales also rose by 50% year-on-year to 19.9 billion won, supported by steady demand at Olive Young and the expansion of new distribution channels such as Coupang.
The medical device segment experienced growth primarily in overseas markets. Third-quarter medical device exports reached approximately 30 billion won, a 53% increase compared to the same period last year. In its first year of entering the European market, PharmaResearch exceeded initial performance expectations in France, while demand for its Rejuran product expanded in Singapore, Indonesia, and the Czech Republic. Domestic medical device sales amounted to 57.1 billion won.
PharmaResearch plans to continue expanding its presence in overseas markets in the fourth quarter. In cosmetics, the company aims to increase distribution channels in Asian markets such as Taiwan and Hong Kong, while targeting the Middle Eastern market, focusing on the United Arab Emirates (UAE). For medical devices, the company intends to broaden its reach into the South American market.
Additionally, PharmaResearch is working on expanding its pipeline utilizing its patented ingredient, c-PDRN®. Following the launch of a scalp booster, the company recently introduced 'Gyner,' its first product for the gynecology market.
* This article has been translated by AI.
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