Pamisel Reports Operating Profit of 7.2 Billion KRW Last Year... "Record High Performance"

[Asia Economy Reporter Hyunseok Yoo] Pharmicell announced on the 8th that it recorded sales of 37.8 billion KRW and operating profit of 7.2 billion KRW last year, marking a growth of 16% and 268% respectively compared to the previous year. Net profit for the period rose 37% to 5.9 billion KRW. This is the highest annual performance in the company's history.

The bio business division, which sells stem cell therapeutics, posted sluggish results due to the impact of COVID-19 and other factors. However, the chemical business division, which produces active pharmaceutical ingredients (nucleosides, mPEG), continued a strong sales growth trend. The chemical business division recorded annual sales of 35.4 billion KRW and operating profit of 11.9 billion KRW, increasing by 27% and 68% respectively compared to the previous year.

By product, nucleoside sales doubled from the previous year to 13.7 billion KRW, driving the performance increase. The rise in sales of raw materials is interpreted as beginning with the increased demand for diagnostic kits and vaccines due to COVID-19 and the expansion of the therapeutic scope of RNA nucleic acid drugs by global pharmaceutical companies. The mPEG derivative therapeutic market also grew significantly, with related sales increasing 94% from 2.9 billion KRW last year to 5.5 billion KRW.

A company official explained, “The active pharmaceutical ingredients sector continues to expand performance due to a surge in orders from existing clients and acquisition of new customers. We expect sales growth to accelerate further once the expansion of the Ulsan plant is completed within this year.” He added, “Last year, the bio business division received approval for commercialization clinical trials for liver cirrhosis treatment (Cellgram-LC, Phase 3), erectile dysfunction treatment (Cellgram-ED, Phase 2), and ovarian and prostate cancer anti-cancer immune cell therapy vaccines (Cellgram-DC, Cellgram-DC-PC, Phase 1), and clinical research is currently actively underway. Based on the chemical business division’s continuous profit-generating capability, we will accelerate the clinical development of stem cell therapeutics in the bio business division.”

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