"Korea BNC Expects High Growth by Strengthening Esthetic Business Division"

NH Investment & Securities Report: Operating Profit This Year Up 105% Compared to Last Year

[Asia Economy Reporter Minji Lee] Opinions have emerged that Korea BNC will show high growth based on the expansion of toxin products, strengthening of the aesthetic business division, and the completion of a new factory in the second half of the year.

According to NH Investment & Securities on the 20th, the company's annual sales this year are expected to increase by 32% to 23.4 billion KRW, and operating profit by 105% to 4.8 billion KRW compared to the same period last year.

Korea BNC is strengthening its aesthetic business by developing various toxin products. Currently, the company has established a diverse portfolio of medical biomaterial products, including Gentacue, a collagen absorbable wound dressing developed independently for the first time in Korea, and Collapleo, a collagen tissue filler, securing a stable source of revenue.

In May last year, the company began clinical trials of hyaluronic acid fillers in China, aiming for a launch in China in 2021. In the second half of this year, the dermocosmetic brand for hospitals and clinics, IceT, is expected to obtain sanitary approval in China and be launched.

Researcher Kwanjun Na of NH Investment & Securities stated, “With the completion of initial production of BiEnox toxin for export, which obtained product approval earlier this year, and the confirmed cancellation of Meditoxin’s domestic product approval, the company will benefit from a ripple effect. It is also positive that toxin sales can be targeted at countries where export registration is not yet completed in the second half of the year.”

The completion of the new factory in Sejong, securing large-scale production facilities, is also positive for the company. The Sejong factory, capable of producing toxins, excipients, and prefilled syringes, is scheduled to be completed in the second half of the year. Additionally, new products such as hyaluronic acid intra-articular injections, anti-toxic liver extract, and peptides for dementia treatment are planned for release next year.

Researcher Na added, “High growth is expected due to the secured large-scale production facilities and the effects of new products. Although there is a short-term overhang burden due to the planned listing of 1.67 million convertible bonds and 760,000 redeemable convertible preferred shares this month, this is in the final stage and the company will be free from overhang issues going forward.”

This content was produced with the assistance of AI translation services.