Theragen Etex said Thursday it hit record-high sales of 138.7 billion won ($115.7 million) in 2019, up 18.1 percent compared to 2018. The company also registered 4.5 billion won in operating profit and net profit of 58.5 billion won.

“Revenue rose thanks to the diversification of sales structure, reaching record highs,” the company said. “Also, operating profit surged due to lower manufacturing, fixed, and variable costs.”

Notably, net profit improved significantly as the company listed its subsidiary Medpacto, an anti-cancer drug development company, on the Kosdaq market in December.

Theragen Etex said the company would go all out to continue its growth this year by improving sales and reducing costs in all areas, including pharmaceutical, bio, and pharmaceutical distribution.