[Public Notice+] Hugel Q2 Operating Profit 16.7 Billion Won... "Strong Performance in Toxin and HA Filler"

[Asia Economy Reporter Yoo Hyun-seok] Hugel, a global total medical aesthetic specialist company, announced on the 11th that it recorded sales of 48.27834 billion KRW, operating profit of 16.70881 billion KRW, and net profit of 15.12038 billion KRW based on consolidated financial statements for the second quarter.

Operating profit increased by 4.6% compared to the same period last year, with an operating profit margin of 34.6%. Sales slightly decreased by 4% due to the spread of the novel coronavirus (hereinafter COVID-19) in major overseas markets such as Europe and Latin America. However, the core products, botulinum toxin and HA filler businesses, grew by 10.7% compared to the same period last year.

As domestic market demand entered a recovery phase, it drove the growth of the core products, botulinum toxin and HA filler. First, domestic sales of botulinum toxin achieved 19.8 billion KRW, an increase of 34.7% compared to the same period last year. Following the domestic market, it also performed well in the Asian market. Market share gradually expanded in Thailand and Japan, resulting in a slight (2%) increase in sales in the Asian market. HA filler also showed strong performance. Domestic market sales surged by 35% compared to the same period last year, leading to an overall upward sales trend both domestically and internationally.

Hugel plans to accelerate global market expansion following its domestic success. Previously, Hugel submitted the BLA for its botulinum toxin in China in April last year. Subsequently, it completed the submission of additional supplementary documents in June and expects sales approval in the third quarter. Accordingly, it has entered the final preparations for product launch together with its local Chinese partner, Sahuan Pharmaceutical.

In June, the European BLA submission was also completed. Since it typically takes about one year to obtain approval, sales approval for botulinum toxin is expected by mid-next year. The United States, the largest market for botulinum toxin, aims for approval by the end of next year and plans to submit the BLA by the end of this year. Additionally, in June, Hugel obtained sales approval for the HA filler ‘The Chaeum Style’ line in Indonesia, accelerating the global market expansion of HA fillers.

A Hugel official stated, “Despite the impact of COVID-19 in overseas markets during the second quarter, operating profit increased thanks to the strong performance of domestic business, solidifying our No. 1 position in the domestic market. It was an important period that served as a catalyst for Hugel’s full-scale overseas market entry in China and Europe.” He added, “We will devote all efforts to strengthening global competitiveness in the remaining second half of the year, aiming to join the ‘1 trillion KRW club’ by 2025.”

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