WSI Reports 7.8 Billion KRW in 1Q Sales... "Growth Expected from Pharmaceutical Company Acquisition"

WSI succeeded in expanding its scale in the first quarter due to strong sales of its main products.

On the 16th, WSI announced that its consolidated sales for the first quarter increased by 7.5% year-on-year to 7.8 billion KRW. Operating profit for the same period was 1 billion KRW, and net profit was 400 million KRW.

The increase in first-quarter sales was driven by strong sales of its main product, the topical hemostatic agent. Continuous growth is being sustained based on a strong sales network.

A company official stated, "We are strengthening competitiveness in various fields such as pharmaceutical distribution and manufacturing, and cardiovascular interventional procedures," adding, "In particular, through the acquisition of Introbiopharma, a high-quality pharmaceutical company with annual sales of 20 billion KRW, significant scale growth and profitability improvement are expected this year."

Meanwhile, WSI announced on the 3rd that it would acquire 67% of Introbiopharma's shares. Through this, the company plans to expand its business scope from existing pharmaceutical distribution to research and development and manufacturing.

Introbiopharma is a pharmaceutical development and manufacturing specialist company established in 2007. It currently holds licenses for 149 products and has strong competitiveness in the circulatory and metabolic therapeutic sectors. As of last year, its sales and operating profit were approximately 23.6 billion KRW and 1.6 billion KRW, respectively.

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