Myeongin Pharm Reports Net Profit of 81.4 Billion Won, Up 19% Year-on-Year

Myeongin Pharm announced on March 10 that its sales revenue last year reached 287.3 billion won, marking an increase of about 7% compared to the previous year, while net profit rose by approximately 19% year-on-year to 81.4 billion won.

Operating profit was 92.5 billion won, showing a slight decrease of 0.3% from the previous year. However, this was partially due to one-time expenses related to IPO preparations. Excluding these, the company analyzed that profitability remained at a similar level to the previous year.

Recently, there has been a rapid surge of interest in central nervous system (CNS) therapeutics in the global pharmaceutical market. As the population ages and social awareness of mental health disorders such as depression, anxiety disorders, and schizophrenia improves, the demand for treatment continues to increase.

In response to this market expansion, Myeongin Pharm is strengthening its production capacity for pellet and sustained-release formulations by expanding its second factory in Baran. The company plans to enhance its product competitiveness based on its accumulated CNS expertise and formulation technology, and to actively respond to increasing global demand going forward.

A representative from Myeongin Pharm stated, "Demand for central nervous system therapeutics is steadily increasing due to aging and changing perceptions of mental health," adding, "Myeongin Pharm will actively respond to market expansion in the CNS therapeutics sector by leveraging our accumulated research and development capabilities and production infrastructure."

Meanwhile, Myeongin Pharm has decided to pay a cash dividend of 1,500 won per common share and to submit the appointment of two inside director candidates for approval at the upcoming regular general shareholders' meeting.

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