Huons Global said Tuesday the company and its subsidiaries recorded 85.8 billion won ($80.1 million) in sales in the first quarter of this year, up 16.8 percent increase from the same period of 2017.
“We have been able to maintain steady growth in the first quarter as we focused on our ability to nurture differentiated 'blockbusters' of our company, maintaining the upward trend of achieving record-high earnings last year,” Huons Global Vice Chairman Yoon Sung-tae said.
The company registered 16.5 billion won in operating profit in the same period, a drastic 45.2 percent increase from a year ago, while recording 13.9 billion won in net profit, a 69.8 percent increase. Aside from its subsidiaries, the company alone posted 9.1 billion won in sales, 5.5 billion in operating profit and 5.9 billion won in net profit.
“In addition to stabilizing sales through export, we have been making efforts to expand global market share for Hutox, the company’s botulinum toxin (BTX),” Huons said. “Such efforts have recently paid off with a 56.7 billion won export contract to Europe.”
The company also expects to launch its BTX product in Korea after completing phase 3 clinical trials in the second half of the year.
Huons Global is building a second factory, which is five times more productive than its first plant, to provide a stable supply of its BTX. The company expects to finish constructing the factory by the second half of this year. Once completed, the first and second factories will be able to produce about 6 million vials annually.
“This year, we will continue to pursue growth with the completion of phase 3 clinical trials for Hutox as well as our second factory,” Yoon stressed.