[E-Daily Reporter NA EUN-KYUNG ] EuBiologics Co., Ltd.(206650)posted its best-ever quarterly results for the third quarter of this year, driven by expanded exports of its flagship product, an oral cholera vaccine. Operating profit exceeded 20 billion won for the first time on a quarterly basis, and the operating profit margin reached 44%. Analysts note that the expansion of vaccine supply through international organizations is driving this growth.

In its quarterly report released on the 13th, EuBiologics Co., Ltd. announced consolidated revenue of 49.6 billion won and operating profit of 21.9 billion won for the third quarter of this year. These figures represent year-over-year increases of 20.6% and 15.6%, respectively, and both mark all-time highs on a quarterly basis.

Compared to the previous quarter, revenue rose 49.2% and operating profit surged 154.8%. The operating profit margin stood at 44.1%, and net income totaled approximately 31.6 billion won.

This earnings growth was driven by the oral cholera vaccine “UbiCol-S.” The company explained that product shipments began in earnest following a cholera vaccine supply contract worth approximately 51.6 billion won signed in the second quarter, with a portion of those shipments reflected in third-quarter revenue.

Cumulative revenue for the first three quarters of this year totaled 98.4 billion won, of which cholera vaccine sales accounted for 96.2 billion won. This means that approximately 98% of total revenue came from cholera vaccines.

UbiCol-S is a vaccine developed by improving the manufacturing process of the existing product, “UbiCol-Plus,” to enhance production efficiency. It obtained World Health Organization (WHO) Prequalification (PQ) in 2024 and is being supplied to the international public procurement market through UNICEF. WHO PQ is a key requirement for participating in the international vaccine procurement market.

Global demand for cholera vaccines is also on the rise. The WHO, UNICEF, and others announced in February that they would resume vaccination campaigns for the first time in over three years as vaccine supplies recovered. EuBiologics Co., Ltd. is recognized as a major manufacturer with large-scale supply capabilities.

These results exceeded analysts’ expectations. SANGSANGINVESTMENT&SECURITIES had forecast third-quarter operating profit at 21.1 billion won, while KB Securities projected 20.2 billion won; the actual operating profit surpassed these estimates by 3.6% and 8.2%, respectively.

Following its cholera vaccine, EuBiologics Co., Ltd. is also pursuing the commercialization of new vaccines. In August, it obtained WHO Prequalification (PQ) for its typhoid conjugate vaccine, “UTPC,” and aims to begin supplying it to the international public procurement market starting next year. In Africa, Phase 3 clinical trials for a 5-valent meningococcal vaccine are also underway.

An EuBiologics Co., Ltd. official stated, “We expect to maintain our exclusive supplier status in the large-scale oral cholera vaccine procurement market through UNICEF in 2027 as well.”