Vivozon Pharma Removed from Investment Warning List... "Efforts to Enhance Shareholder Value through Growth"

Bioson Pharmaceutical announced on the 22nd that it has been removed from the investment caution list after receiving an 'unqualified' opinion on its internal accounting control system.

Although it received an unqualified audit opinion on the 2022 financial statements in March last year, the designation as a cautionary stock was maintained due to an adverse opinion on the review of the internal accounting control system. In response, Bioson Pharmaceutical has made efforts to strengthen internal controls and management transparency by reorganizing the internal accounting management system and regulations, and linking with the ERP (Enterprise Resource Planning) system.

Based on significant external growth last year, Bioson Pharmaceutical succeeded in turning its operating profit positive. This was the result of restructuring non-profitable business units and focusing on the pharmaceutical business to improve its business structure. Last year, consolidated sales amounted to 71.3 billion KRW, and operating profit turned positive at 2.6 billion KRW.

Following its removal from the cautionary stock list and improved performance, the company plans to actively enhance shareholder value this year by expanding new drug development achievements. In particular, it will concentrate company-wide resources on obtaining approval from the Ministry of Food and Drug Safety (MFDS) for the non-narcotic analgesic Opiranserin (Anapraju).

A company representative said, “We devoted all efforts last year to reorganizing internal accounting management to escape from the cautionary stock list,” adding, “Now that we have been removed from the cautionary list, we will focus on expanding performance in our core pharmaceutical business and securing approval for Anapraju this year.”

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