Hugel's 2Q Operating Profit Up 27.5% YoY... "Best Ever 2nd Quarter Performance"

Sales of 81.6 Billion KRW and Operating Profit of 28 Billion KRW
Botulinum Toxin and Fillers Show Domestic and International Sales Growth
Botulax's Third Challenge for US FDA Approval

Hugel recorded its highest-ever performance for the second quarter.

Exterior view of Hugel Godeu Factory.
[Photo by Hugel]

Hugel announced on the 9th that its consolidated operating profit for the second quarter of this year was preliminarily estimated at 27.985 billion KRW, a 27.5% increase compared to the same period last year. During the same period, sales grew 27.7% to 81.6 billion KRW, and net profit increased by 39% to 21.48 billion KRW.

Both sales and operating profit increased by 28% compared to the same period last year, achieving the highest-ever performance for the second quarter. Gross profit also rose by 26% to 62.9 billion KRW.

The botulinum toxin (BTX) product "Botulax" (export name Retivo) contributed to sales growth by showing simultaneous growth in domestic and overseas markets. Botulax sales increased by 17% compared to the same period last year. The domestic market expanded its distribution channels online. Overseas, strong performance in Asian markets such as Thailand, Taiwan, and Japan, along with entry into 23 European countries, sustained growth. In April, the BTX product was officially launched in Australia, rapidly increasing sales.

Sales of hyaluronic acid (HA) fillers (The Chaeum, Byurizen Skin Booster HA) also increased by 43% compared to the same period last year. Thanks to expanded consumer advertising campaigns and strengthened academic promotions, domestic sales grew by 103% compared to the same period last year. "The Chaeum" (export names Dermalex, Revollex) is gradually increasing sales in major Asia-Pacific and European countries.

The derma cosmetic brand "Wellage" increased sales by 41% compared to the same period last year by adding new online distribution and marketing channels in addition to existing health & beauty (H&B) stores and home shopping. The lifting thread "Blue Rose" also showed growth in the 20% range due to lineup expansion.

Hugel plans to expand its domestic market share in the second half of the year through differentiated sales and marketing. It will expand academic programs, seminars, and small group academies, conduct evidence-based campaigns based on various global clinical results, and strengthen partnerships with healthcare professionals (HCP) by digitizing its existing webzine.

It also plans to focus on expanding overseas markets. In the Chinese market, based on the "one patient, one vial" campaign, it is continuously securing new hospitals and clinics, including signing a supply contract with Meilai, the largest local chain hospital. The HA filler brand "Persnica" (local name Bu'anlun) held a new product launch event in June ahead of full-scale sales.

Entry into the North American BTX market is also in its final stages. In the U.S. market, Hugel plans to resubmit the Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) by the end of this month, aiming to obtain product approval in the first quarter of next year. Hugel’s approval was delayed after receiving a second Complete Response Letter (CRL) from the FDA in April. Canada, where approval was obtained last year, plans to prepare for a local launch after the third quarter.

Additionally, Hugel explained that Australia is expected to smoothly achieve a 5% market share in the BTX market this year based on the local network established through HA fillers. Europe will continue to expand the number of countries entered for both BTX and HA filler products.

A Hugel official said, "We achieved balanced sales growth both domestically and globally, setting a record for the highest sales and operating profit for the second quarter ever. We will complete entry into major overseas markets such as Canada and the U.S. in the near future and continue our global aggressive expansion."

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