Cha Biotech Reports Q3 Revenue of 177 Billion KRW... Highest Quarterly Performance

[Asia Economy Reporter Cho Hyun-ui] Cha Biotech recorded its highest quarterly performance in the third quarter of this year.

Cha Biotech announced on the 13th that it recorded consolidated sales of 177 billion KRW, operating profit of 10.8 billion KRW, and net profit of 2.3 billion KRW in the third quarter of this year.

Sales increased by 32.5% (121.2 billion KRW) compared to the same period last year, and operating profit achieved a surplus of 4.8 billion KRW, an increase of 8.4 billion KRW compared to the same period last year.

A Cha Biotech official said, "Sales increased due to growth in overseas medical networks centered in the United States and the expansion of domestic subsidiaries such as CMG Pharm and Cha Cares. In addition, operating profit also achieved a surplus due to the strong performance of overseas hospitals."

Cha Biotech is accelerating the development of cell therapy products and the CDMO business, including operating 'Matica Biotechnology,' which produces the core raw material of cell therapy products, 'viral vectors,' in collaboration with Texas A&M University in the United States. Through this, the company plans to expand cooperation with global cell and gene therapy development companies that want to proceed with rapid clinical trials, aiming to enter the U.S. market.

Oh Sang-hoon, CEO of Cha Biotech, said, "We will accelerate the commercialization of cell therapy products through rapid clinical progress and generate profits based on technological competitiveness such as the global CDMO business."

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