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[Alpha Biz=(Chicago) Reporter Paul Lee] Hugel posted a record high in the third quarter of its history thanks to the shared growth of botulinum toxin and HA filler at home and abroad. Accumulated figures for the third quarter also broke the record.
Hugel announced on the 13th that it recorded sales of 84.8 billion won and operating profit of 34.6 billion won in the third quarter. The figure is up 20.0 percent and 39.5 percent from a year earlier. Net profit for the same period rose 58.4 percent to 41.6 billion won.
Hugel's third-quarter earnings are driven by strong sales of botulinum toxin and HA fillers. Botulinum toxin 'Botulex' (export name: Retivo) is consolidating its status as the No. 1 premium brand in market share in Korea, and overseas continues to grow due to its strong performance in Asia such as Thailand, Taiwan and Japan, as well as South America and Australia.
Hugel will also focus on expanding the global market for botulinum toxin in the fourth quarter.
We are also actively promoting the global expansion of HA filler. In the case of Europe, the company plans to increase its market share to 20% within the next three years by rapidly securing sales networks throughout the country, including expanding its presence in the Netherlands and Belgium. Thailand obtained approval for the item in August and is set to be released by the end of this year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
