Medytox, 2Q Sales of 51.8 Billion KRW... 4% Increase YoY

Operating Profit 9.55 Billion KRW... 8% Decrease YoY
"Aim to Achieve Record Sales Through H2 Performance"

Medytox announced on the 7th that its consolidated sales for the second quarter of this year were preliminarily estimated at 51.788 billion KRW, an increase of 4.08% compared to the same period last year.

Exterior view of Medytox Seoul Office.
[Photo by Medytox]

Operating profit for the same period was 9.551 billion KRW, down 7.95%. Net profit stood at 8.94 billion KRW, a decrease of 53.79% compared to the same period last year.

Both Medytox’s second-quarter sales and operating profit exceeded market expectations. The market had forecasted Medytox’s second-quarter sales at 51 billion KRW and operating profit at 8.4 billion KRW.

Medytox recorded cumulative sales of 94.5 billion KRW in the first half of this year. This marks the first time in four years since 2019 that Medytox’s first-half sales have surpassed 90 billion KRW.

Compared to the previous quarter, the first quarter, sales grew by 21.36% and operating profit surged by 440.52%. Regarding this, a Medytox official explained, "Compared to the first quarter, when operating profit was temporarily low due to one-time expenses, we are showing a clear recovery trend."

Medytox attributed the growth to increased sales of botulinum toxin (BTX) products. Compared to the previous quarter, BTX product sales increased by 198% domestically and 11% overseas. The company emphasized that 'Coretox,' which has grown into a key product since last year, showed strong growth both domestically and internationally.

Joo Hee-seok, Vice President of Medytox, stated, "We are on course to achieve the highest-ever annual sales target set for this year. Since winning the first trial in a civil lawsuit against a competitor in the first quarter, and recently winning a lawsuit related to product license cancellation, internal and external issues have been resolved for now. We expect positive outcomes for other issues in the second half through proactive responses."

Meanwhile, Medytox is continuing efforts to proceed with the application process for U.S. Food and Drug Administration (FDA) approval of the non-animal liquid toxin product 'MT10109L' in the second half of this year, as well as to visualize a memorandum of understanding for the establishment of a local production plant in Dubai. The domestic approval process for 'NEWLUX,' the next-generation BTX product developed by its affiliate Newmeco, is also progressing smoothly.

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