Korea Pharma Reports Operating Profit of 1.341 Billion KRW in Q1, Up 9.0% Year-on-Year

[Asia Economy Reporter Lee Gwan-ju] Korea Pharma announced on the 13th that its operating profit for the first quarter of this year reached 1.341 billion KRW, marking a 9.0% increase compared to the previous year.

Sales amounted to 18.631 billion KRW, a 3.9% increase compared to the previous year. Net income for the period was 546 million KRW. Net income slightly decreased due to approximately 880 million KRW in interest expenses recorded in the first quarter, arising from non-cash expense items such as convertible bond adjustments that did not occur in the previous year.

The company cited the strong performance of its original new drug, 'Plenvusan,' as the main factor for the sales increase in the first quarter. Sales of the oral tablet Plenvusan increased by 118% compared to last year. Additionally, contract manufacturing organization (CMO) and export sales also grew by 6.2%, showing balanced growth across various business sectors.

A Korea Pharma representative stated, “While maintaining stable growth, the company is striving to improve profitability through continuous introduction of original new drugs. We have signed contracts with Novartis to introduce ‘Rosuco tablets’ and ‘Atorvin tablets,’ which reduce blood cholesterol levels, and new products for constipation treatment and gastric ulcer treatment are planned to be launched in the second half of the year.”

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