Medytox said Tuesday that it recorded 58.8 billion won ($54.9 million) in sales in the first quarter of this year, a 45 percent increase from a year earlier.
The company also registered 27.8 billion won in operating profit in the same period, up 31 percent increase from a year ago, and 21.6 billion won in net profit, up 27 percent.
“Since last year, aggressive branding strategies, such as massive corporate and product advertisements and diverse consumer promotions, have created a virtuous cycle of increasing brand value, market shares and sales,” a company official said. “Our brand power will have a strong competitive edge in entering and expanding into new markets.”
The company expected strong growth in the future, too.
“We are planning to step up growth by expanding our global market share,” the official said. “We have received sales approval for Medytoxin, a botulinum toxin (BTX) type A product, in China. The U.S. phase 3 clinical trial for Innotox is also running smoothly.”