Hugel Reports Q3 Revenue of 70.7 Billion KRW, a Quarterly Record... Growth in Botulinum Toxin and HA Filler Exports

[Asia Economy Reporter Lee Gwan-joo] Hugel announced on the 10th that its consolidated sales for the third quarter of this year reached 70.7 billion KRW, a 35.0% increase compared to the same period last year. Operating profit was 24.8 billion KRW, and net profit was 26.3 billion KRW, increasing by 18.3% and 24.1% respectively during the same period.

Global exports of its flagship products, botulinum toxin and hyaluronic acid (HA) fillers, saw significant growth. In particular, sales of the botulinum toxin product 'Botulax' grew approximately 67% compared to the same period last year. Based on stable domestic sales, the recovery of medical and aesthetic demand in the Chinese market and the easing of lockdowns contributed to achieving the highest quarterly sales ever.

Growth in major ROW (Rest of the World) regions such as Brazil, Thailand, and Taiwan also contributed to the sales increase. In South America, including Brazil, sales increased by 159% compared to the same period last year. In the European market, launches have been completed and are progressing smoothly in Tier 1 countries such as the UK, France, Germany, and Italy, which obtained product approvals in the first half of this year.

Additionally, the HA filler 'The Chaeum' saw increased overseas sales due to steady sales growth in European markets including the UK, France, and Poland, as well as the impact of its first shipment to China. The cosmetic brands 'Wellage' and '[PR]4 (PR Four)' also continued solid growth of over 16% compared to the same period last year.

Hugel plans to focus on expanding the global market for Botulax through the fourth quarter and into next year. The U.S. market re-applied for product approval from the Food and Drug Administration (FDA) last month. Canada, which obtained approval in June, and Australia, expected to receive approval within this year, will officially launch the product through local subsidiaries in the first quarter of next year.

In China, Hugel is conducting genuine product certification activities in collaboration with the Chinese Society of Plastic Surgery and is carrying out procedure training in cooperation with local medical institutions to enhance Botulax awareness. The HA filler The Chaeum is targeted for launch in the first quarter of next year. As the first domestic company to enter both the Chinese toxin and HA filler markets, Hugel plans to implement various marketing strategies to maximize synergy between products.

A Hugel official stated, "Remarkable export growth in various regions led to record-breaking quarterly sales in the third quarter." He added, "We will make multifaceted efforts to realize Hugel's corporate value by strengthening influence in existing markets and accelerating the pursuit of untapped overseas markets, aiming to leap forward as a global top-tier company."

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