L&K Biomed Reports Q2 Sales of 11.3 Billion KRW and Operating Profit of 1.7 Billion KRW

Spinal implant company L&K Biomed announced on August 18 that it achieved consolidated sales of 11.3 billion KRW and operating profit of 1.7 billion KRW in the second quarter of this year. Compared to the same period last year, sales increased by 57%, and the company turned to an operating profit.

In the second quarter of this year, sales of the company’s main spinal implant product line increased. New sales from the pectus excavatum implant product line, "Pectus," were also reflected.

For the first half of this year, cumulative sales reached 20.2 billion KRW and operating profit was 1.6 billion KRW, up 24% and 26% respectively from the same period last year. The company turned to profitability, driven by the growth of the highly profitable Pectus product and improved performance in key countries due to aggressive overseas sales and marketing. However, due to foreign exchange losses from a decline in exchange rates, the company recorded a net loss of 3 billion KRW for the period.

By overseas market, sales in the United States increased by 24% year-on-year. Sales in Thailand and Vietnam also rose by 30% and 134%, respectively. The company saw balanced growth in its key markets. In the United States, the rapid growth of Pectus became the main driver of sales expansion. In Vietnam, increased demand from additional registrations in national and public hospitals and new client acquisitions led to more than double the sales compared to the same period last year, further driving global sales growth.

Pectus, which received FDA approval in the United States last April, is now being stably supplied to the U.S. market amid high interest and demand. Sales in the first half of this year have already surpassed the total annual sales for 2024. The company expects this steep growth trend to continue in the second half as well.

Following the first successful surgery at the VA Hospital (Veterans Affairs Hospital), a leading U.S. public healthcare institution, the company plans to rapidly expand its supply chain to other VA hospitals across key regions in the United States.

An L&K Biomed official stated, "VA hospitals represent a massive medical market, with treatment costs 4 to 5 times higher than those of general hospitals, amounting to several trillion KRW. We will actively work to have our products adopted by the VA system at VA hospitals across the United States."

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