Shinshin Pharmaceutical Achieves Record High Performance Through Q3... "Growth Driven by Global Market Expansion"

Transdermal drug delivery platform company Shinshin Pharmaceutical continues to show strong performance. Shinshin Pharmaceutical announced on the 13th through a disclosure that its cumulative sales on a consolidated basis up to the third quarter reached 78 billion KRW, a 12.7% increase compared to the same period last year. Operating profit and net profit for the same period increased by 3.1% and 12%, respectively, reaching 5.5 billion KRW and 4.9 billion KRW, setting a record high performance.

Shinshin Pharmaceutical's strong third-quarter results are due to a significant increase in domestic and international sales of key products. Sales of existing main products and pharmaceuticals for which it holds exclusive sales rights from Celltrion Pharmaceutical have steadily grown. Sales volume of new products launched this year also rose rapidly. Shinshin Pharmaceutical plans to further strengthen its recently launched premium lineup to boost sales.

The scale of overseas pharmaceutical exports is also continuously expanding. While generating stable sales based on exclusive positions in existing countries of entry, the company is also steadily expanding its export countries and product lines.

It has also succeeded in newly entering the Chinese market, accelerating its global market penetration. Last month, it signed a pharmaceutical supply contract worth 5.4 million USD with Sinopharm, the largest pharmaceutical company in China, starting with entry into the online market. After maximizing consumer awareness through the contract with Sinopharm, it plans to make a full-scale entry into the Chinese pharmaceutical market.

A Shinshin Pharmaceutical official said, “Sales of pharmaceuticals applying our core transdermal drug delivery technology have continuously increased domestically and internationally, enabling us to achieve record-high performance up to the third quarter,” and added, “We expect to smoothly achieve this year’s target of 100 billion KRW in annual sales.”

He continued, “We will continue to expand our global market presence through additional overseas approvals and participation in tenders,” and added, “We also plan to rapidly proceed with the development of various new drug pipelines based on our core technology.”

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