[Click eStock] "Pharmaresearch Product, Expected Record High Performance This Year"

[Asia Economy Reporter Hyunseok Yoo] KB Securities analyzed on the 20th that Pharmarise Product is expected to achieve record-high performance this year. No investment opinion or target price was provided.

Established in 2001, Pharmarise Product is a regenerative bio-specialized company that produces and sells regenerative medicine-based pharmaceuticals, medical devices, and cosmetics. Based on the manufacturing technology of self-regenerating promoting substances ‘PDRN and PN,’ it holds various products including pharmaceuticals, medical devices, cosmetics, and health functional foods.

In the third quarter of this year, sales and operating profit were 29.1 billion KRW and 9.5 billion KRW, respectively, increasing by 48.7% and 161.4% compared to the same period last year. KB Securities’ analysis confirms the full-scale growth of the medical device sector, including increased sales of Conjuran and increased exports of Rejuran.

Researcher Im Sang-guk of KB Securities explained that record-high performance is expected in 2020 due to the expansion of major product sales and the effect of new products. He said, "Stable growth of intra-articular injection Conjuran is expected," adding, "Since it was designated as a reimbursable item last March, patient burden has decreased, leading to more visits and increased sales."

He further explained, "Growth in the aesthetic sector including Rejuran, Cleveil, and Rejuviel was visible, and despite social distancing due to COVID-19, domestic market sales in the third quarter remained solid," adding, "Performance growth due to increased exports to China of products such as Rejuran Cosmetic is also positive, and Rejuran Healer obtained Class 1 medical device approval from China last January."

He said, "The expansion of the new product lineup is positive. The skin drug injector Rejumeit started sales in the domestic market from last October," adding, "The premium Rejuran HB is scheduled to be launched in April next year."

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