| Subjects | Yungjin Pharm had achieved $92.3m for the first half year of 2019, and expecting $200m for the year achievement | hit | 799 |
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| Write | G.B.D. | Date | 2019-08-27 |
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YJP reported $92.3mil. for the first half of this year, achieving the highest sales since their history with a growth rate of 26.2% compared to the same period last year. The operating profit growth is $6mil. which is increased about $8mil. compared to the last year, and expecting the additional uplift growth further by the year-end as the company turn into profit making.
If this increasing trend keep occurs, the expected achievement of this year's sales will be hit $200mil. for the very first time since its establishment. Considering the sales achievement pattern had always showed that the last half year was higher than the first half year since 2014, the company is expecting the annual sales achievement for 2019 will be $200mil. in the push. This improvement is attributed to the increase in exports to Japan. It was sluggish in the first half of last year. As a result, the company set up crisis response strategies for a contingency plan from the second half in 2018, recording $26mil. which is a growth of more than 90% compared to the same period period in last year. This allowed YJP to normalize their exports to Japan early and have even growth in domestic operations. In response to concerns over exports to Japan due to the recent trade conflicts between Korea and Japan, YJP won't be effected by the subject to import and export with pharmaceutical products which is not a regulated item. Furthermore, the impact is not significant for YJP by manufacturing and supplying Japanese pharmaceutical's products with OEM method. Domestic sales was recorded $65mil. compared to the last first half year was $57mil. which is 14% of increased rate. In particular, FIBRO TABLET, an Idiopathic Pulmonary Fibrosis Treatment drug, launched in last year showed a steady growth in more than 30 General hospitals. Also, the significant increase in sales of HAMONILAN, an enteral nutritional supplement, contributed greatly to earnings improvement. The sales of APC "DENOGAN" injection and own company production "ORAL" products are also improving sharply, and showing its growth. YJP plans to focus on promotion its own products and to achieve the profit structure by reducing and improving the costs of raw materials and production efficiency. Moreover, YJP was well-known for a Japanese focused exporter, however, the company has been seeking new overseas markets such as China and Southeast Asia for a diversifying its overseas business since last year, and expecting to see a visible results starting in 2020 onward. Meanwhile, the new drug development in addition to the existing natural drug pipeline, the target agent in anticancer drug 'YPN-005' which was announced by the AACR(American Association for Cancer Research) in last April, is expecting the additional technical transfer once pre-clinical stage starts. |
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