Pamicell Posts Record Quarterly Operating Profit in Q1, Growing 250% Year-on-Year

[Asia Economy Reporter Hyungsoo Park] Pharmicell announced on the 9th that its operating profit in the first quarter of this year more than doubled compared to the same period last year.

Pharmicell explained that it recorded sales of 17.4 billion KRW, a 43% increase compared to the same period last year. Operating profit was 4.9 billion KRW, a 250% increase compared to the same period last year.

Pharmicell Chemical Division's first-quarter sales were recorded at 16.8 billion KRW. Nucleoside sales doubled compared to the same period last year, reaching 9.6 billion KRW, accounting for 55% of total sales.

Nucleosides are mainly used as raw materials for RNA therapeutics, gene diagnostic reagents, and mRNA vaccine purification. Recently, as overseas pharmaceutical companies that confirmed efficacy and safety through mRNA vaccines have expanded investment and support for developing RNA therapeutics, Pharmicell's nucleoside sales have also increased.

A Pharmicell official said, "Nucleosides are used not only for mRNA vaccines but also as raw materials for RNA therapeutics," adding, "The second plant, which is being expanded to meet the increasing demand, is scheduled to be completed by the end of June."

In February, Pharmicell signed a land purchase contract for a 5,000-pyeong site for the third plant to build a large-scale production facility. The company plans to solidify its position as an advanced bio company in the overseas market.

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