According to the Financial Supervisory Service’s electronic disclosure system on the 7th, PharmaResearch announced that its consolidated revenue for the first half of this year was 324.8 billion won, with operating profit of 123.8 billion won. This represents a 26% increase in revenue and a 23% increase in operating profit compared to the same period last year, marking the company’s best-ever first-half performance. The operating profit margin stood at 38.1%.
The second quarter also achieved its highest-ever quarterly results. On a consolidated basis, second-quarter revenue was 178.7 billion won, and operating profit was 66.5 billion won, representing increases of 27% and 19%, respectively, compared to the same period last year. The operating profit margin stood at 37.2%.
The company attributed this performance largely to continued domestic demand for Rejuran, as well as the expansion of medical device exports to Europe and its global cosmetics business.
In fact, exports for the first half of the year totaled 142.8 billion won, a 47% increase compared to the same period last year. The share of exports in total revenue also expanded from 38% in the same period last year to 44%.
Second-quarter export revenue also reached 84 billion won, a 62% increase from the same period last year. Its share of total revenue expanded to 47%. Domestic sales also recorded stable growth, reaching 94.7 billion won.
By business segment, the medical devices and cosmetics divisions led the strong performance. First, second-quarter medical device sales totaled 96.7 billion won, comprising 64.5 billion won in domestic sales and 32.2 billion won in exports. Domestically, growth was driven by robust demand for Rejuran and increased dermatology-related spending by foreign tourists visiting Korea.
Medical device exports increased by 33% year-over-year, achieving the highest quarterly performance in the company’s history. This was driven by the rapid expansion of the Rejuran business in Europe, based on a partnership with Laboratoires VIVACY, a French aesthetic specialist. The company also maintained steady growth in existing markets such as Japan, Türkiye, Australia, and Hong Kong. Enhanced collaboration with local partners and strengthened distribution network management also contributed to the expansion of exports.
During the same period, sales in the cosmetics division totaled 60.2 billion won, with domestic sales of 16.6 billion won and exports of 43.6 billion won—representing increases of 47% and 124%, respectively, compared to the same period last year. In the domestic market, increased demand from foreign tourists, expanded sales through the Olive Young channel, and the growth of the Rejuvi brand in the pharmacy channel contributed to the results. Overseas, online sales channels such as Shopee and TikTok Shop in Southeast Asia expanded, while sales through major channels like Amazon and Sephora in the U.S. also picked up, driving growth.
The company plans to accelerate efforts to strengthen its global business foundation in the second half of the year, focusing on Europe and North America. In Europe, it will strengthen partner support and distribution network management by establishing a local business hub in France. In the U.S., the company intends to leverage the production base of the recently acquired CG USA to enhance production efficiency and market responsiveness in its cosmetics business and expand its local operations.
A PharmaResearch official stated, “In the second quarter, amid continued robust domestic demand for Rejuran, exports of medical devices to Europe and the global cosmetics business grew in tandem, resulting in record-high quarterly sales and operating profit,” adding, “In the second half of the year, we will further strengthen our business foundation not only in Korea but also in key markets such as Europe and North America to continue our growth as a global aesthetic brand.”
